Shashi and Ravi Ruia

Shashi Ruia and Ravi Ruia, commonly referred to as the Ruia Brothers, are Indian billionaires, and the owners of Essar Group, founded in 1969.

Sashi Ruia
Ravi Ruia
NationalityIndian
OccupationBusinessmen
Net worth$2.2 billion (jointly with brother, June 2017)[1]

In 2012, Forbes named the Ruia brothers as the world's richest Indians with a net worth of US$7 billion.[1]

Ravi Ruia

Ravi Ruia was born in April 1949.[2] He is a mechanical engineer by profession, with a degree from College of Engineering, Guindy in Chennai.[3][4]

He is married to Madhu, they have two children, and live in Mumbai, India.[1]

>http://www.essar.com/section_level1.aspx?cont_id=SD7sjPUVBkw=</ref> Essar Energy completed the transaction for the sale of Essar Oil to Rosneft and a consortium led by Trafigura & UCP at an enterprise valuation of US$12.9 billion.[5] This transaction represents Russia's largest ever foreign investment, as well as India's largest Foreign Direct Investment.He was the 12th richest person living in the UK, as in the Sunday Times Rich List 2011.Ruia managed Essar's globalization plans, including new ventures in South East Asia, Africa, and the Middle East. He has received Business India Businessman of the Year Award 2010.[6]

In December 2011, India's Central Bureau of Investigation commenced an investigation concerning Ruia for the sale of India's 2G spectrum, which was denied by the Essar Group.[7]

After a lengthy legal process, in December 2017, the Indian Courts acquitted Ruia of any impropriety in the case, holding that the prosecution had "miserably failed to prove any charge against any of the accused".[8]

See also

References
  1. "Forbes profile: Shashi & Ravi Ruia". Forbes. Retrieved 24 August 2020.
  2. "Ravi RUIA - Personal Appointments (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 6 June 2017.
  3. Vidya Raja (31 July 2018). "India's Oldest Engineering College Turns 225: 6 Alumni Who Have Made Guindy Proud!". The Better India.
  4. "Top 20 Richest Indians: Do You Know Them? - Chilly World - Page 16". chillyworld.com. Retrieved 15 February 2018.
  5. "Essar Oil completes sale of India assets to Rosneft-led consortium for $12.9 bn". thehindubusinessline.com. Retrieved 15 February 2018.
  6. "Ravi Ruia, Vice Chairman and Co-founder, Essar". New Building Material & Construction World. July 2015. Retrieved 14 February 2018.
  7. Karmali, Naazneen. "Essar Group's Ruias Charged In Telecom Investigation". forbes.com. Retrieved 15 February 2018.
  8. Kumar, Nirnimesh (21 December 2017). "Ruias, Khaitans too acquitted". The Hindu. ISSN 0971-751X. Retrieved 21 July 2020.
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