Shashikant Ruia, patriarch-chairman of Essar, passes away at 81, family says ‘redefined India’s corporate landscape…’

Ruia family patriarch Shashikant Ruia has passed away at 81, the family said in an official statement on November 26.

According to a PTI report citing family sources, Ruia died in Mumbai of prolonged illness at around 11.55 pm on November 25. He had returned from the US around a month back, where he was undergoing treatment, it added.

His mortal remains will be kept at Ruia House from 1-3 pm today (November 26) and the funeral procession to the Hindu Worli Crematorium will leave at 4 pm, as per the report. 

More commonly referred to as Shashi Ruia, he is survived by his wife Manju and two sons Prashant and Anshuman.

Family, Company Issues Tribute

“It is with profound grief that we inform of the passing of Shri Shashikant Ruia, Patriarch of the Ruia and Essar Family. He was 81. With an unwavering commitment to community upliftment and philanthropy, he touched millions of lives leaving an enduring impact. His humility, warmth, and ability to connect with everyone he met, made him a truly exceptional leader,” the statement said.

It also paid tribute to Ruia's contributions to society, stating: “An iconic industrialist, Shri Shashikant Ruia, Chairman, Essar Group, played a significant role in redefining India's corporate landscape. He laid the foundation of the Essar Group and made it a global conglomerate. Shri. Shashikant Ruia's extraordinary legacy will remain a guiding light for all of us, as we honour his vision and continue to uphold the values, he cherished and championed.”

About Shashikant Ruia

A first-generation entrepreneur industrialist, Shashi Ruia, co-founded the metals-to-technology conglomerate Essar with his brother Ravikant Ruia (aka Ravi Ruia) in 1969.

He began started his career in 1965 under the guidance of father Nand Kishore Ruia and laid the foundation of Essar by constructing an outer breakwater at Chennai Port in 1969. 

Today the group expanded into various sectors, including steel, oil refining, exploration and production, telecom, power, and construction.

(With inputs from PTI)