A wave exists only in its propagating medium but Einstein erred to discard the physical medium for light wave and to introduce the non-existent 4-D spacetime continuum instead. It denied him the chance to address the intrinsic wave-quantum Unity of light and predict the new entity of?basic substance’ to compose all forms of E & m so compellingly demanded for the inter-conversions of E & m by the eqn. E=mc 2, which is now re-derived. Unified Theory gives cogent arguments and experimental support for the existence of a real physical medium in space, the all-composing & all-pervading ‘sharmon medium’ as Basic Substance. It propagates light as a wave-quantum UNITY, the particle aspect showing up at short wavelength e.g. from ~ 7000 A o downward in photochemical effects and below ~ 3000 A o in photoelectric effects. The non-substantive abstract concepts of space & time evolve from our perceptions of successive motions & changes in the surrounding objects and cannot fuse into any concrete spacetime continuum. If existent it would retard motion of heavenly bodies, which is not actually observed. Any non-composite static spacetime cannot undulate to transmit transverse light wave. Various multidimensional spacetime continua are mere mathematical constructs bereft of physical existence and theories based on them unrealistic. Unified Theory explains from sharmon medium the constancy & invariance to source-observer motion, the two pillar postulates of Special Relativity without validating Special Relativity. It explains Michelson-Morley and Sagnac experiments as also the observed variability of light velocity and superluminality, which invalidate Relativity Theories. Lorentz transformations do not describe any natural motion since no velocity can vary (like v) with, and be invariant (like c) to, a source-observer motion at the same time. The actual length of an object, viewed by say, 100 differently moving observers cannot undergo 100 different objective contractions at the same time, making?contraction of length’ an unrealistic concept. So is ‘dilation of time’. Unified Theory derives from sharmon medium the Maxwell equations and the time containing and time free equations for the propagation of wave-quantum unity in gravitational and electromagnetic radiation. The Schrodinger wave equation is also derived. It explains the photoelectric effect. Explanation of the bending of light in a gravitational field shows that photon has mass and gravitation is not a curved 4-D spacetime. All particles and energy-quanta have definite mass & size.

Keywords: Special Relativity, General Relativity, Unified Theory, Sharmon Medium