United States
                       Securities and Exchange Commission
                             Washington, D.C. 20549


                                    FORM 6-K


                            Report of Foreign Issuer
                    Pursuant to Rule 13a-16 or 15d-16 under
                      the Securities Exchange Act of 1934





                        For the month of December, 1999


                                 ICICI Limited
                (Translation of registrant's name into English)

                                  ICICI Towers
                              Bandra-Kurla Complex
                             Mumbai, India 400 051
                    (Address of principal executive office)


Indicate by check mark whether the registrant files or will file annual reports
                    under cover of Form 20-F or Form 40-F.

          Form 20-F X                                 Form 40-F
                   ---                                         ---

        Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
                  the Commission pursuant to Rule 12g 3-2(b)
                  under the Securities Exchange Act of 1934.

          Yes                                          No. X
             ---                                          ---


      If "Yes" is marked, indicate below the file number assigned to the
                 registrant in connection with Rule 12g 3-2(b).

                                Not applicable.







INDEX TO EXHIBITS

Item
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1.     Press announcement by ICICI Bank Limited  (subsidiary of ICICI Limited)



                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

Dated:   December 15, 1999

                                             ICICI Ltd.



                                             By: /s/ Nachiket Mor
                                                --------------------
                                             Name:   Nachiket Mor
                                             Title:  General Manager