Shashi & Ravi Ruia

Forbes - - THE WORLD’S BILLIONAIRES -

The brothers’ debt-laden steel­maker Es­sar Steel was put up for auc­tion un­der In­dia’s new In­sol­vency & Bank­ruptcy Code. Lon­don steel baron Lak­shmi Mit­tal, who has been eye­ing as­sets back home, got his ArcelorMit­tal to bid. Numetal, in which Ravi’s son Re­want holds a mi­nor­ity stake, also bid but may be disqualified be­cause of ties to Es­sar— de­fault­ers can’t par­tic­i­pate in the auc­tion.

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