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<xbrli:xbrl xmlns:in-bse-co="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co" xmlns:in-bse-co-roles="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-bse-co-type="http://www.bseindia.com/xbrl/co/2017-09-15/in-bse-co-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-bse-co-2017-09-15.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier 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Officer</in-bse-co:DesignationOfSignatory><in-bse-co:Place contextRef="MainI">KOLKATA</in-bse-co:Place><in-bse-co:DateOfFiling contextRef="MainI">2026-09-04</in-bse-co:DateOfFiling><in-bse-co:ISINCode contextRef="MainI">INE128A01029</in-bse-co:ISINCode><in-bse-co:DisclosureUnderRegulation contextRef="MainI">Regulation 7 (2)</in-bse-co:DisclosureUnderRegulation><in-bse-co:RevisedFilling contextRef="MainI">false</in-bse-co:RevisedFilling><in-bse-co:TypeOfInstrument contextRef="Disclosure1">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure1">Promoter Group</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure1">Times Horizon Private Limited</in-bse-co:NameOfThePerson><in-bse-co:IdentificationNumberOfDirectorOrCompany contextRef="Disclosure1">U60200MH2025PTC443127</in-bse-co:IdentificationNumberOfDirectorOrCompany><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure1" unitRef="shares" 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contextRef="Disclosure1">2026-09-02</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure1">NA</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure1">THPL has informed that this transaction is pursuant to the composite scheme of arrangement between Bennett, Coleman &amp; Company Limited ("BCCL"), Times Horizon Private Limited ("THPL") and their respective shareholders and creditors, in accordance with Sections 230 to 232 and other applicable provisions under the Companies Act, 2013 and rules made thereunder and other applicable laws, approved by the Hon'ble National Company Law Tribunal, Mumbai bench, vide its order dated 4 February 2026. Market value of the equity shares of the Target Company as on the trading day immediately preceding the effective date of the composite scheme of arrangement (i.e., as on 31 August 2026), i.e., INR 329.80/- per equity share, on BSE and NSE has been considered.</in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock><in-bse-co:TypeOfInstrument contextRef="Disclosure2">Equity</in-bse-co:TypeOfInstrument><in-bse-co:CategoryOfPerson contextRef="Disclosure2">Promoter</in-bse-co:CategoryOfPerson><in-bse-co:NameOfThePerson contextRef="Disclosure2">Bennett Coleman &amp; Company Limited</in-bse-co:NameOfThePerson><in-bse-co:IdentificationNumberOfDirectorOrCompany contextRef="Disclosure2">U22120MH1913PLC000391</in-bse-co:IdentificationNumberOfDirectorOrCompany><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">307400</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0.0042</in-bse-co:SecuritiesHeldPriorToAcquisitionOrDisposalPercentageOfShareholding><in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">307400</in-bse-co:SecuritiesAcquiredOrDisposedNumberOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity contextRef="Disclosure2" unitRef="INR" decimals="0">101380520</in-bse-co:SecuritiesAcquiredOrDisposedValueOfSecurity><in-bse-co:SecuritiesAcquiredOrDisposedTransactionType contextRef="Disclosure2">Sell</in-bse-co:SecuritiesAcquiredOrDisposedTransactionType><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity contextRef="Disclosure2" unitRef="shares" decimals="INF">0</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalNumberOfSecurity><in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding contextRef="Disclosure2" unitRef="pure" decimals="INF">0</in-bse-co:SecuritiesHeldPostAcquistionOrDisposalPercentageOfShareholding><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate contextRef="Disclosure2">2026-09-01</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyFromDate><in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate contextRef="Disclosure2">2026-09-01</in-bse-co:DateOfAllotmentAdviceOrAcquisitionOfSharesOrSaleOfSharesSpecifyToDate><in-bse-co:ModeOfAcquisitionOrDisposal contextRef="Disclosure2">Scheme of Amalgamation/Merger/Demerger/Arrangement</in-bse-co:ModeOfAcquisitionOrDisposal><in-bse-co:DateOfIntimationToCompany contextRef="Disclosure2">2026-09-02</in-bse-co:DateOfIntimationToCompany><in-bse-co:ExchangeOnWhichTheTradeWasExecuted contextRef="Disclosure2">NA</in-bse-co:ExchangeOnWhichTheTradeWasExecuted><in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock contextRef="Disclosure2">BCCL has informed that this transaction is pursuant to the composite scheme of arrangement between Bennett, Coleman &amp; Company Limited ("BCCL"), Times Horizon Private Limited ("THPL") and their respective shareholders and creditors, in accordance with Sections 230 to 232 and other applicable provisions under the Companies Act, 2013 and rules made thereunder and other applicable laws, approved by the Hon'ble National Company Law Tribunal, Mumbai bench, vide its order dated 4 February 2026. Market value of the equity shares of the Target Company as on the trading day immediately preceding the effective date of the composite scheme of arrangement (i.e., as on 31 August 2026), i.e., INR 329.80/- per equity share, on BSE and NSE has been considered.</in-bse-co:DetailsOfChangeInHoldingOfSecuritiesOfPromotersEmployeeOrDirectorOfAListedCompanyAndOtherSuchPersonsTextBlock></xbrli:xbrl>
