| RELATED PARTY |
NOTE 20 – RELATED PARTY
The details of transactions with the related
parties for the three months ended March 31, 2026 and March 31, 2025 and balances outstanding as on March 31, 2026 and December 31, 2025
are as follows:
| Particulars | |
For the
period ended
March 31,
2026 | | |
For the
period ended
March 31,
2025 | |
| | |
| | |
| |
| Transactions during the year: | |
| | |
| |
| | |
| | |
| |
| Expenses incurred on behalf of affiliates | |
| | |
| |
| Srivastava Robotic Surgery Pvt Ltd | |
| 334 | | |
| 414 | |
| SS International Centre for Robotics Surgery Pvt Ltd | |
| 1,503 | | |
| 6,397 | |
| Sudhir Srivastava Medical Innovations Pvt Ltd | |
| 411 | | |
| 584 | |
| Telegnosis Pvt Ltd | |
| 71 | | |
| 727 | |
| Sudhir Prem Srivastava, M.D. | |
| - | | |
| 18,000 | |
| | |
| | | |
| | |
| Expense incurred on behalf of Company | |
| | | |
| | |
| Sudhir Prem Srivastava, M.D. | |
| 22,945 | | |
| 72,920 | |
| Milan Rao | |
| 3,818 | | |
| - | |
| | |
| | | |
| | |
| 2016 Stock Incentive Plans Expenses | |
| | | |
| | |
| Anup Sethi | |
| - | | |
| 323,153 | |
| Barry F. Cohen | |
| 142,198 | | |
| 142,004 | |
| Dr. S.P. Somashekhar | |
| 53,098 | | |
| 53,098 | |
| Sudhir Prem Srivastava, M.D. | |
| 426,595 | | |
| 426,012 | |
| Vishwajyoti P. Srivastava M.D | |
| 142,198 | | |
| 142,004 | |
| Milan Rao# | |
| 116,145 | | |
| - | |
| | |
| | | |
| | |
| Consultancy charges, sitting fees and other perquisites | |
| | | |
| | |
| Anup Sethi | |
| - | | |
| 51,156 | |
| Barry F. Cohen | |
| 45,000 | | |
| 45,000 | |
| Sudhir Prem Srivastava, M.D. | |
| 239,635 | | |
| 220,342 | |
| Vishwaivoti P. Srivastava, M.D | |
| 98,029 | | |
| 53,708 | |
| Milan Rao# | |
| 104,168 | | |
| - | |
| Dr. Frederic H Moll | |
| 1,500 | | |
| - | |
| Dr. S.P. Somashekhar | |
| 1,500 | | |
| - | |
| Mr. Tim Adams | |
| 1,500 | | |
| - | |
| Mylswamy Annadurai | |
| 1,500 | | |
| - | |
| | |
| | | |
| | |
| Proceeds from Private Investment in Public Equity | |
| | | |
| | |
| Sushruta Private Limited | |
| 2,000,000 | | |
| - | |
| Mr. Tim Adams | |
| 1,197,000 | | |
| - | |
| Dr. Frederic H Moll | |
| 2,000,000 | | |
| - | |
| | |
| | | |
| | |
| Proceeds from notes issued | |
| | | |
| | |
| Sushruta Private Limited | |
| - | | |
| 28,000,000 | |
| | |
| | | |
| | |
| Interest accrued on notes | |
| | | |
| | |
| Sushruta Private Limited | |
| - | | |
| 182,400 | |
| | |
| | | |
| | |
| Conversion of notes into common stock | |
| | | |
| | |
| Sushruta Private Limited | |
| - | | |
| 30,164,548 | |
| Balance outstanding as on period end: | |
| | |
| |
| | |
| | |
| |
| Accrued expenses & other current liabilities: | |
As on
March 31,
2026 | | |
As on
December 31,
2025 | |
| Balance receivable / (payable) | |
| | |
| |
| Barry F. Cohen | |
| (541,253 | ) | |
| (496,253 | ) |
| Milan Rao | |
| (20,834 | ) | |
| - | |
| | |
| | | |
| | |
| Prepaids and other current assets: | |
| | | |
| | |
| Srivastava Robotic Surgery Pvt Ltd | |
| 704 | | |
| 394 | |
| SS International Centre for Robotics Surgery Pvt Ltd | |
| 18,091 | | |
| 17,360 | |
| Cardio Bahamas^ | |
| (76,741 | ) | |
| (76,741 | ) |
| SSI PTE Singapore^ | |
| (424,586 | ) | |
| (424,586 | ) |
| Sudhir Prem Srivastava, M.D.^ | |
| 2,305,538 | | |
| 2,378,493 | |
| Sudhir Srivastava Medical Innovations Pvt Ltd | |
| 935 | | |
| 556 | |
| Telegnosis Private Limited | |
| 1,273 | | |
| 1,257 | |
| Sushruta Private Limited | |
| 5,000 | | |
| 5,000 | |
| Vishwajyoti P. Srivastava M.D | |
| - | | |
| 10,178 | |
| ^ | For these balances, Dr. Sudhir Prem Srivastava is considered as the ultimate beneficial owner, and the settlement is expected to be made on net basis. Accordingly, these balances have been disclosed under prepaids and other current assets. |
| # | During the current period, Mr. Naveen Kumar Amar resigned from the position of Chief Financial Officer with effect from January 02, 2026. Thereafter, on January 16, 2026, the Company appointed Milan Rao as Global Chief Operating Officer and as the Company’s new Chief Financial Officer. |
|