<?xml version="1.0" encoding="UTF-8"?>
<!--CIMG V1.1 (21-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-11-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Changes_In_Management/2025-11-30/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/2025-11-30/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.w3.org/1999/xlink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-11-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500059</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-01</xbrli:startDate><xbrli:endDate>2026-10-01</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500059</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-01</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500059</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-10-01</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/ScripCode">500059</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-10-01</xbrli:startDate><xbrli:endDate>2026-10-01</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">BILVYAPAR</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">BIL VYAPAR LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">500059</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">Notlisted</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE071A01013</in-capmkt:ISIN><in-capmkt:WhetherDisclosureFiledForListedEntity contextRef="MainD">true</in-capmkt:WhetherDisclosureFiledForListedEntity><in-capmkt:RelationshipWithTheListedEntity contextRef="MainD">Listed Entity (self)</in-capmkt:RelationshipWithTheListedEntity><in-capmkt:WhetherEventOrInformationIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainD">2026-09-30</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainD">16:00:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported><in-capmkt:DateOfReport contextRef="MainI">2026-10-01</in-capmkt:DateOfReport><in-capmkt:TypeOfChange contextRef="D_ChangeInManagement1">Appointment</in-capmkt:TypeOfChange><in-capmkt:CategoryForChange contextRef="D_ChangeInManagement1">Auditors</in-capmkt:CategoryForChange><in-capmkt:DesignationOfDesignatedPerson contextRef="D_ChangeInManagement1">Statutory Auditor</in-capmkt:DesignationOfDesignatedPerson><in-capmkt:SalutationOfDesignatedPerson contextRef="D_ChangeInManagement1">M/s.</in-capmkt:SalutationOfDesignatedPerson><in-capmkt:NameOfDesignatedPerson contextRef="I_ChangeInManagement1">RNM AND ASSOCIATES</in-capmkt:NameOfDesignatedPerson><in-capmkt:EffectiveDateOfReasonOfChange contextRef="I_ChangeInManagement1">2026-09-30</in-capmkt:EffectiveDateOfReasonOfChange><in-capmkt:TermOfAppointmentInMonths contextRef="D_ChangeInManagement1" unitRef="pure" decimals="INF">12</in-capmkt:TermOfAppointmentInMonths><in-capmkt:BriefProfile contextRef="D_ChangeInManagement1">RNM &amp; Associates is a peer-reviewed Chartered Accountants firm established in 2011, with its head office in Lucknow and branch offices in Sitapur, Kolkata, Bhubaneswar, and Madhepura. The firm is led by a team of six experienced Chartered Accountants and is registered with ICAI, CAG, RBI (Category-I), and GST authorities. It provides a comprehensive range of professional services including statutory audit, internal audit, management audit, taxation (direct and indirect), GST, corporate law advisory, accounting, valuation, project financing, internal control systems, restructuring, and regulatory compliance. With a strong infrastructure, experienced professionals, and a diverse client base comprising private, government, and semi-government organizations, RNM &amp; Associates is committed to delivering high-quality, client-focused, and value-driven professional services.</in-capmkt:BriefProfile><in-capmkt:WhetherTheStatutoryAuditorOrSecretarialAuditorHoldsAValidCertificateIssuedByThePeerReviewBoardOfInstituteOfCharteredAccountantsOfIndiaOrInstituteOfCompanySecretariesOfIndia contextRef="D_ChangeInManagement1">true</in-capmkt:WhetherTheStatutoryAuditorOrSecretarialAuditorHoldsAValidCertificateIssuedByThePeerReviewBoardOfInstituteOfCharteredAccountantsOfIndiaOrInstituteOfCompanySecretariesOfIndia></xbrli:xbrl>
