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<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-11-30/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Announcement_For_OneTimeSettlement_And_RestructuringLoansOrBorrowings/2023-11-30/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Announcement_For_OneTimeSettlement_And_RestructuringLoansOrBorrowings/2023-11-30/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2023-11-30/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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-11-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SWASTIK</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-16</xbrli:startDate><xbrli:endDate>2026-09-16</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">SWASTIK</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-16</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">SWASTIK</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">SWASTIK PIPE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:TypeOfAnnouncement contextRef="MainI">New</in-capmkt:TypeOfAnnouncement><in-capmkt:TypeRestructuringInRelationToLoansOrBorrowingsOrOneTimeSettlement contextRef="MainI">One Time Settlement(OTS)</in-capmkt:TypeRestructuringInRelationToLoansOrBorrowingsOrOneTimeSettlement><in-capmkt:DateOfOccurrenceOfEvent contextRef="MainI">2026-09-16</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="MainI">12:44:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:RemarksForWebsiteDissemination contextRef="MainI">One Time Settlement for the Loan taken by the Company from Vivriti Capital Limited has taken place.</in-capmkt:RemarksForWebsiteDissemination><in-capmkt:DateOfReport contextRef="MainI">2026-09-16</in-capmkt:DateOfReport><in-capmkt:WhetherOneTimeSettlementDisclosureFiledForListedCompany contextRef="MainD">true</in-capmkt:WhetherOneTimeSettlementDisclosureFiledForListedCompany><in-capmkt:WhetherTheDisclosuresWasFiledWithExchangesAsPerCircularNumberSEBIHOCFDCMD1CIRP2019140ForOneTimeSettlement contextRef="MainD">false</in-capmkt:WhetherTheDisclosuresWasFiledWithExchangesAsPerCircularNumberSEBIHOCFDCMD1CIRP2019140ForOneTimeSettlement><in-capmkt:ReasonForTheDisclosuresWasNotFiledWithExchangesAsPerCircularNumberSEBIHOCFDCMD1CIRP2019140ForOneTimeSettlement contextRef="MainI">Reconciliation of Loan Account was going on with Hero FinCorp Limited</in-capmkt:ReasonForTheDisclosuresWasNotFiledWithExchangesAsPerCircularNumberSEBIHOCFDCMD1CIRP2019140ForOneTimeSettlement><in-capmkt:MeetingInWhichOneTimeSettlementIsConsidered contextRef="MainI">Audit Committee Meeting</in-capmkt:MeetingInWhichOneTimeSettlementIsConsidered><in-capmkt:DateOfMeetingInWhichOneTimeSettlementIsConsidered contextRef="MainI">2026-08-26</in-capmkt:DateOfMeetingInWhichOneTimeSettlementIsConsidered><in-capmkt:NameOfBanksOrFinancialInstitutionsOrLendersUnderOneTimeSettlement contextRef="MainI">Hero FinCorp Limited</in-capmkt:NameOfBanksOrFinancialInstitutionsOrLendersUnderOneTimeSettlement><in-capmkt:DateOfReceivingTheAgreementOrLetterForSettlingTheDue contextRef="MainI">2026-09-16</in-capmkt:DateOfReceivingTheAgreementOrLetterForSettlingTheDue><in-capmkt:DetailsOfAmountOfOneTimeSettlementAgreedToBePaidByTheCompany contextRef="MainI">24900000</in-capmkt:DetailsOfAmountOfOneTimeSettlementAgreedToBePaidByTheCompany><in-capmkt:DateOfPaymentOfOneTimeSettlementAgreedToBeMadeByTheCompany contextRef="MainI">2026-08-30</in-capmkt:DateOfPaymentOfOneTimeSettlementAgreedToBeMadeByTheCompany><in-capmkt:DateOfPaymentOfOneTimeSettlementMadeByTheCompany contextRef="MainI">2026-08-27</in-capmkt:DateOfPaymentOfOneTimeSettlementMadeByTheCompany><in-capmkt:ReasonsForOptingForOneTimeSettlement contextRef="MainI">Operational Losses faced by the Company</in-capmkt:ReasonsForOptingForOneTimeSettlement><in-capmkt:BriefSummaryOfTheOneTimeSettlement contextRef="MainI">Loan Amount of Hero FinCorp Limited Stands Satisfied</in-capmkt:BriefSummaryOfTheOneTimeSettlement><in-capmkt:DateOfIntimationOfTheOneTimeSettlementToCompetentAuthority contextRef="MainI">2026-09-16</in-capmkt:DateOfIntimationOfTheOneTimeSettlementToCompetentAuthority><in-capmkt:NameAndDetailsOfTheAuthorityToWhomIntimationWasMadeForOneTimeSettlement contextRef="MainI">National Stock Exchange</in-capmkt:NameAndDetailsOfTheAuthorityToWhomIntimationWasMadeForOneTimeSettlement><in-capmkt:OtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForOneTimeSettlement contextRef="MainI">One Time Settlement for the Loan taken by the Company from Hero FinCorp Limited has taken place.</in-capmkt:OtherDisclosureWithRespectToComplianceOfAnySEBIActOrRegulationOrCircularOrProvisionForOneTimeSettlement><in-capmkt:OtherInformationForOneTimeSettlement contextRef="MainI">One Time Settlement for the Loan taken by the Company from Hero FinCorp Limited has taken place.</in-capmkt:OtherInformationForOneTimeSettlement><in-capmkt:RemarksForWebsiteDisseminationForOneTimeSettlement contextRef="MainI">One Time Settlement for the Loan taken by the Company from Hero FinCorp Limited has taken place.</in-capmkt:RemarksForWebsiteDisseminationForOneTimeSettlement></xbrli:xbrl>
