<?xml version="1.0" encoding="UTF-8" standalone="no"?><!--ICGIG V1.1 (01-01-2026)--><xbrli:xbrl xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2024-12-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/IntegratedGovernance/2024-12-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/IntegratedGovernance/2024-12-31/in-capmkt-roles" xmlns:in-capmkt-types="http://www.sebi.gov.in/xbrl/2024-12-31/in-capmkt-types" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xl="http://www.xbrl.org/2003/XLink" xmlns:xlink="http://www.w3.org/1999/xlink"><link:schemaRef 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contextRef="MainI">AGSTRA</in-capmkt:Symbol><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE583L01014</in-capmkt:ISIN><in-capmkt:NameOfTheCompany contextRef="MainI">AGS Transact Technologies Limited</in-capmkt:NameOfTheCompany><in-capmkt:DateOfStartOfFinancialYear contextRef="MainI">2025-04-01</in-capmkt:DateOfStartOfFinancialYear><in-capmkt:DateOfEndOfFinancialYear contextRef="MainI">2026-03-31</in-capmkt:DateOfEndOfFinancialYear><in-capmkt:ReportingQuarter contextRef="MainI">Quarterly</in-capmkt:ReportingQuarter><in-capmkt:DateOfEndOfReportingPeriod contextRef="MainI">2025-12-31</in-capmkt:DateOfEndOfReportingPeriod><in-capmkt:TypeOfCompany contextRef="MainD">Equity</in-capmkt:TypeOfCompany><in-capmkt:WhetherPartAOfAnnexureIOfTheSEBICircularDated31December2024RelatedToComplianceReportOnCorporateGovernanceIsApplicableToTheEntity 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contextRef="MainI">Original</in-capmkt:TypeOfSubmission><in-capmkt:DisclosureOfNotesOnCompositionOfBoardOfDirectorsExplanatoryTextBlock contextRef="MainD">The Honble National Company Law Tribunal, Mumbai Bench, vide order dated 25.08.2025 in C.P. (IB)/505(MB)/2025, has initiated Corporate Insolvency Resolution Process CIRP against the Company. Accordingly, as per Regulation 15(2A), the provisions of Regulation 17 shall not apply to a listed entity during the period in which it is undergoing corporate insolvency resolution process under the Insolvency Code.</in-capmkt:DisclosureOfNotesOnCompositionOfBoardOfDirectorsExplanatoryTextBlock><in-capmkt:WhetherTheListedEntityHasARegularChairperson contextRef="MainD">false</in-capmkt:WhetherTheListedEntityHasARegularChairperson><in-capmkt:WhetherChairpersonIsRelatedToMDOrCEO contextRef="MainD">false</in-capmkt:WhetherChairpersonIsRelatedToMDOrCEO><in-capmkt:DisclosureOfNotesOnCompositionOfCommitteesExplanatoryTextBlock contextRef="MainD">The Honble National Company Law Tribunal, Mumbai Bench, vide order dated 25.08.2025 in C.P. (IB)/505(MB)/2025, has initiated Corporate Insolvency Resolution Process CIRP against the Company. Accordingly, as per Regulation 15(2B), The provisions as specified in regulations 18, 19, 20 and 21 shall not be applicable during the insolvency resolution process period in respect of a listed entity  which is undergoing corporate insolvency resolution process under the Insolvency Code</in-capmkt:DisclosureOfNotesOnCompositionOfCommitteesExplanatoryTextBlock><in-capmkt:DisclosureOfNotesOnMeetingOfBoardOfDirectorsExplanatoryTextBlock contextRef="MainD">The Honble National Company Law Tribunal, Mumbai Bench, vide order dated 25.08.2025 in C.P. (IB)/505(MB)/2025, has initiated Corporate Insolvency Resolution Process CIRP against the Company. Accordingly, as per Regulation Regulation 15(2A), The provisions as specified in regulations 17 shall not be applicable during the insolvency resolution process period in respect of a listed entity  which is undergoing corporate insolvency resolution process under the Insolvency Code</in-capmkt:DisclosureOfNotesOnMeetingOfBoardOfDirectorsExplanatoryTextBlock><in-capmkt:DisclosureOfNotesOnMeetingOfCommitteesExplanatoryTextBlock contextRef="MainD">The Honble National Company Law Tribunal, Mumbai Bench, vide order dated 25.08.2025 in C.P. (IB)/505(MB)/2025, has initiated Corporate Insolvency Resolution Process CIRP against the Company. Accordingly, as per Regulation 15(2B), The provisions as specified in regulations 18, 19, 20 and 21 shall not be applicable during the insolvency resolution process period in respect of a listed entity  which is undergoing corporate insolvency resolution process under the Insolvency Code</in-capmkt:DisclosureOfNotesOnMeetingOfCommitteesExplanatoryTextBlock><in-capmkt:TheCompositionOfBoardOfDirectorsIsInTermsOfSebiRegulations2015 contextRef="MainD">false</in-capmkt:TheCompositionOfBoardOfDirectorsIsInTermsOfSebiRegulations2015><in-capmkt:TheCompositionOfAuditCommitteeIsInTermsOfSebiRegulations2015 contextRef="MainD">false</in-capmkt:TheCompositionOfAuditCommitteeIsInTermsOfSebiRegulations2015><in-capmkt:TheCompositionOfTheNominationAndRemunerationCommitteeIsInTermsOfSebiRegulations2015 contextRef="MainD">false</in-capmkt:TheCompositionOfTheNominationAndRemunerationCommitteeIsInTermsOfSebiRegulations2015><in-capmkt:TheCompositionOfTheStakeholdersRelationshipCommitteeCommitteeIsInTermsOfSebiRegulations2015 contextRef="MainD">false</in-capmkt:TheCompositionOfTheStakeholdersRelationshipCommitteeCommitteeIsInTermsOfSebiRegulations2015><in-capmkt:TheCompositionOfTheRiskManagementCommitteeIsInTermsOfSebiRegulations2015 contextRef="MainD">NA</in-capmkt:TheCompositionOfTheRiskManagementCommitteeIsInTermsOfSebiRegulations2015><in-capmkt:TheCommitteeMembersHaveBeenMadeAwareOfTheirPowersRoleAndResponsibilitiesAsSpecifiedInSebiRegulations2015 contextRef="MainD">false</in-capmkt:TheCommitteeMembersHaveBeenMadeAwareOfTheirPowersRoleAndResponsibilitiesAsSpecifiedInSebiRegulations2015><in-capmkt:TheMeetingsOfTheBoardOfDirectorsAndTheAboveCommitteesHaveBeenConductedInTheMannerAsSpecifiedInSebiRegulations2015 contextRef="MainD">false</in-capmkt:TheMeetingsOfTheBoardOfDirectorsAndTheAboveCommitteesHaveBeenConductedInTheMannerAsSpecifiedInSebiRegulations2015><in-capmkt:ThisReportAndOrTheReportSubmittedInThePreviousQuarterHasBeenPlacedBeforeBoardOfDirectors contextRef="MainD">false</in-capmkt:ThisReportAndOrTheReportSubmittedInThePreviousQuarterHasBeenPlacedBeforeBoardOfDirectors><in-capmkt:DisclosureOfNotesToAnnexure1ExplanatoryTextBlock contextRef="MainD">The Honble National Company Law Tribunal, Mumbai Bench, vide order dated 25.08.2025 in C.P. (IB)/505(MB)/2025, has initiated Corporate Insolvency Resolution Process CIRP against the Company. Accordingly, as per Regulation 15(2A) and 15(2B), The provisions as specified in regulations 17, 18, 19, 20 and 21 shall not be applicable during the insolvency resolution process period in respect of a listed entity  which is undergoing corporate insolvency resolution process under the Insolvency Code. From the date of appointment of the IRP the management of affairs and powers of the board of directors of the Company were suspended and stood vested with IRP/RP of the Company.

Further, CA Brijendra Kumar Mishra is the Resolution Professional (RP) of the Company, since there is no option of RP in the Designation, therefore his designation is selected as 'Director'.</in-capmkt:DisclosureOfNotesToAnnexure1ExplanatoryTextBlock><in-capmkt:NameOfSignatoryForQuartelyAffirmations contextRef="MainD">CA Brijendra Kumar Mishra</in-capmkt:NameOfSignatoryForQuartelyAffirmations><in-capmkt:DesignationOfPersonForQuartelyAffirmations contextRef="MainD">Director</in-capmkt:DesignationOfPersonForQuartelyAffirmations><in-capmkt:WhetherAsPerSubRegulation2baOfRegulation27OfSEBILODRThereHasBeenCyberSecurityIncidentsDuringTheQuarter contextRef="MainD">false</in-capmkt:WhetherAsPerSubRegulation2baOfRegulation27OfSEBILODRThereHasBeenCyberSecurityIncidentsDuringTheQuarter><in-capmkt:NameOfSignatory contextRef="MainD">CA Brijendra Kumar Mishra</in-capmkt:NameOfSignatory><in-capmkt:DesignationOfPerson contextRef="MainD">Director</in-capmkt:DesignationOfPerson><in-capmkt:Place contextRef="MainD">Mumbai</in-capmkt:Place><in-capmkt:DateOfSigning contextRef="MainI">2026-04-27</in-capmkt:DateOfSigning><in-capmkt:NoOfInvestorComplaints contextRef="PY_I" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaints><in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsReceivedDuringThePeriod><in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsDisposedOffDuringThePeriod><in-capmkt:NoOfInvestorComplaints contextRef="MainI" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaints><in-capmkt:NoOfInvestorComplaintsDuringThePeriod contextRef="MainD" decimals="0" unitRef="pure">0</in-capmkt:NoOfInvestorComplaintsDuringThePeriod></xbrli:xbrl>