ISMT Limited announced that IDBI Bank vide its letter no. LCG-SSCB.53/106/Nom.8 dated January 18, 2019 has withdrawn the nomination of Mr. Shashank Dixit as Director from the Board of Directors of the Company with immediate effect. It may be noted in this connection that IDBI Bank has ceased to be a lender of the Company consequent upon the assignment of its debt to an Asset Reconstruction Company.