Shashikant Ruia, one of the founders of the Essar Group, passed away at the age of 81 after battling an illness. Along with his brother Ravi, he successfully built the Essar Group into a global business empire in various industries. The funeral procession will be held on Tuesday towards the Hindu Worli Crematorium. Ruia's passing marks the end of an era for the first-generation entrepreneur and industrialist.