I agree with David! A fantastic find indeed and I will also look forward to your future posts!
The Indian population of Natal (now KwaZulu-Natal) has been making headlines recently, with celebrations of the anniversary of the arrival here of the first indentured labourers. There have been great changes since those lowly beginnings. I do not know if the Ranadays played a direct role in the Indian affairs of Natal, but the link to Gandhi suggests that they were well acquainted with their situation in the Colony.
I now have the Medal in hand so can comment on it a little more as well as having found some more information on its recipient.
The Medal is officially impressed CIV: SURG: G. S. RANADAY (Hopefully the attached photograph can also vouch for the fact it is not engraved if little else).
It has the usual high relief characteristics although the text on the obverse is very low relief (Even some occasional light polishing over the last hundred plus years would have removed it). Noticeably Britannia's shield has been somewhat defaced. It seems to have been deliberate - not too surprising considering the recipient was an associate of Gandhi.
Shripat Govind Ranaday was an officer of the Indian Medical Service during the Great War from late 1914 although no service record nor medal roll can be found for him or even anyone named somewhat like him (there are the variations of at least Shripat/Sripat/Shripad/Sripad Ranaday/Ranade to contend with).
This Medal also does not seem to have any contact marks on it as would be expected of one of a pair or trio. Did Doctor Ranaday miss out second time around?
The first step on the road to restoration will be removing the soldered silver mounts on the reverse. Hopefully it will not leave too much mess behind. It doesn't seem like whoever did it did a sloppy job.