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<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Action_Initiation_Or_Action_Taken_Or_Order_Passed/2026-03-31/in-capmkt/in-capmkt-ent" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2026-03-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2026-03-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544732</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-03</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ActionsInitiated1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544732</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-03</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ActionsInitiatedOrOrdersPassedAxis"><in-capmkt:ActionsInitiatedOrOrdersPassedDomain>ActionsInitiatedOrOrdersPassedDomain1</in-capmkt:ActionsInitiatedOrOrdersPassedDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_ActionsInitiated1_PersonsAgainstWhomActionsInitiated1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">544732</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-03</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember 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id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">INNOVISION</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">INNOVISION LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">544732</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE0ADB01012</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeOfEvent contextRef="MainI">Action(s) initiated or orders passed (sub-para 19)</in-capmkt:TypeOfEvent><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-09-03</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">13:17:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:RemarksWebsiteDissemination contextRef="MainI">Intimation under Regulation 30 read with Para A(19)(a) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) – Search conducted by Directorate of Enforcement</in-capmkt:RemarksWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-09-03</in-capmkt:DateOfReport><in-capmkt:TypeOfActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Search or seizure</in-capmkt:TypeOfActionsInitiatedOrOrdersPassed><in-capmkt:ActionsInitiatedOrOrdersPassedBy contextRef="I_ActionsInitiated1">Enforcement Authority</in-capmkt:ActionsInitiatedOrOrdersPassedBy><in-capmkt:NameOfAuthorityFromWhomActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Directorate of Enforcement (“ED”), Lucknow Zonal Office</in-capmkt:NameOfAuthorityFromWhomActionsInitiatedOrOrdersPassed><in-capmkt:NumberOfPersonsAgainstWhomActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1" unitRef="pure" decimals="0">2</in-capmkt:NumberOfPersonsAgainstWhomActionsInitiatedOrOrdersPassed><in-capmkt:ActionsInitiatedOrOrdersPassedAgainst contextRef="I_ActionsInitiated1_PersonsAgainstWhomActionsInitiated1">Listed Entity (Self)</in-capmkt:ActionsInitiatedOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1_PersonsAgainstWhomActionsInitiated1">INNOVISION LIMITED</in-capmkt:NameOfPersonAgainstWhomActionsInitiatedOrOrdersPassed><in-capmkt:ActionsInitiatedOrOrdersPassedAgainst contextRef="I_ActionsInitiated1_PersonsAgainstWhomActionsInitiated2">Key Managerial Personnel</in-capmkt:ActionsInitiatedOrOrdersPassedAgainst><in-capmkt:NameOfPersonAgainstWhomActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1_PersonsAgainstWhomActionsInitiated2">Shri Randeep Hundal</in-capmkt:NameOfPersonAgainstWhomActionsInitiatedOrOrdersPassed><in-capmkt:DesignationOfPersonAgainstWhomActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1_PersonsAgainstWhomActionsInitiated2">Chairman and Managing Director</in-capmkt:DesignationOfPersonAgainstWhomActionsInitiatedOrOrdersPassed><in-capmkt:TypeOfCommunicationReceivedForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Search or seizure Memo or Punchnama</in-capmkt:TypeOfCommunicationReceivedForActionsInitiatedOrOrdersPassed><in-capmkt:NatureAndDetailsOfTheActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Search conducted at the Company's office premises pursuant to Search Warrant No. 28/2026 dated 01 September 2026 under Section 17 of the PMLA.
During the search, the ED officers examined various records and electronic data available at the Company's office. Certain documents/data pertaining to the Company were copied onto a 16 GB pen drive, which was taken by the ED, as recorded in the Panchnama. The statement of the Chief Financial Officer of the Company was also recorded under Section 17(1)(f) of the PMLA. As recorded in the Panchnama, the records examined included, inter alia, documents relating to NHAI debarment proceedings, toll collection reports, NHAI contracts/Letters of Award, FIR/case records and orders of the Hon'ble High Court connected with the aforesaid matters. Statement of the CFO was recorded under Section 17(1)(f) of the PMLA. A search was also conducted at the residential premises of Shri Randeep Hundal, Chairman and Managing Director of the Company, pursuant to Authorization No. 23 of 2026 dated 01 September 2026 under Section 17 of the PMLA. As recorded in the Panchnama, no incriminating documents were found and
seized from the said residential premises.</in-capmkt:NatureAndDetailsOfTheActionsInitiatedOrOrdersPassed><in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">2026-09-02</in-capmkt:DateOfReceiptOfCommunicationReceivedForActionsInitiatedOrOrdersPassed><in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Search conducted at the Company's office premises pursuant to Search Warrant No. 28/2026 dated 01 September 2026 under Section 17 of the PMLA.
During the search, the ED officers examined various records and electronic data available at the Company's office. Certain documents/data pertaining to the Company were copied onto a 16 GB pen drive, which was taken by the ED, as recorded in the Panchnama. The statement of the Chief Financial Officer of the Company was also recorded under Section 17(1)(f) of the PMLA. As recorded in the Panchnama, the records examined included, inter alia, documents relating to NHAI debarment proceedings, toll collection reports, NHAI contracts/Letters of Award, FIR/case records and orders of the Hon'ble High Court connected with the aforesaid matters. Statement of the CFO was recorded under Section 17(1)(f) of the PMLA. A search was also conducted at the residential premises of Shri Randeep Hundal, Chairman and Managing Director of the Company, pursuant to Authorization No. 23 of 2026 dated 01 September 2026 under Section 17 of the PMLA. As recorded in the Panchnama, no incriminating documents were found and
seized from the said residential premises.</in-capmkt:BriefDetailsOfTheMaterialContentsOfTheCommunicationReceivedForActionsInitiatedOrOrdersPassed><in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Company's office: 07:30 A.M. on 02 September 2026 to approximately 12:30 P.M. on 03 September 2026. CMD's residential premises: 07:40 A.M. to 10:20 P.M. on 02
September 2026.</in-capmkt:PeriodForWhichCommunicationWouldBeApplicableForActionsInitiatedOrOrdersPassed><in-capmkt:ExpectedImpactOfActionInitiatedOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity contextRef="I_ActionsInitiated1">The search proceedings did not cause any disruption to the normal business operations of the Company.</in-capmkt:ExpectedImpactOfActionInitiatedOnFinancialAndOperationalOrOtherActivitiesOfTheListedEntity><in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">No final finding of violation or contravention has been communicated to the Company pursuant to the aforesaid searches.</in-capmkt:DetailsOfAnyAberrationsOrNonCompliancesOrViolationsOrContraventionsIdentifiedByTheAuthorityInTheCommunicationForActionsInitiatedOrOrdersPassed><in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">No penalty or restriction or sanction imposed</in-capmkt:DetailsOfAnyPenaltyOrRestrictionOrSanctionImposedPursuantToTheCommunicationForActionsInitiatedOrOrdersPassed><in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">The Company cooperated with the Panchas during the search</in-capmkt:ActionsTakenByListedCompanyWithRespectToTheCommunicationForActionsInitiatedOrOrdersPassed><in-capmkt:AnyOtherRelevantInformationForActionsInitiatedOrOrdersPassed contextRef="I_ActionsInitiated1">Details of any litigation, etc. connected with the above action: The records examined during the search included documents relating to certain NHAI toll-plaza/debarment matters and connected proceedings before the Hon'ble High Court of Delhi. The Hon'ble High Court, vide order dated 12 September 2025
in W.P.(C) No. 12339/2025, had stayed the operation of the impugned NHAI debarment order at the interim stage, subject to the final outcome of the writ petition.</in-capmkt:AnyOtherRelevantInformationForActionsInitiatedOrOrdersPassed><in-capmkt:NameOfTheSignatory contextRef="I_Signatories1">JYOTI SACHDEVA</in-capmkt:NameOfTheSignatory><in-capmkt:DesignationOfTheSignatory contextRef="I_Signatories1">Company secretary and Compliance Officer</in-capmkt:DesignationOfTheSignatory><in-capmkt:DateOfOfTheSignatory contextRef="I_Signatories1">2026-09-03</in-capmkt:DateOfOfTheSignatory><in-capmkt:PlaceOfOfTheSignatory contextRef="I_Signatories1">Delhi</in-capmkt:PlaceOfOfTheSignatory></xbrli:xbrl>
