Shashi & Ravi Ruia was born in Mumbai, India, India. Shashi & Ravi Ruia is #668 in List Billionaires People In The World. Mumbai brothers Shashi & Ravi Ruia control the $15 billion (revenue) Essar Group, with interests in steel, shipping and oil refining. The siblings concluded a long-pending deal in August to sell their Essar Oil assets to Russian oil-producer Rosneft for $12.9 billion The Ruias still own the profitable Stanlow oil refinery in the U.K.through privately held Essar Energy. Their Essar Steel, with debt of nearly $7 billion, is among a dozen companies that face liquidation under India's new Insolvency & Bankruptcy Code.