<?xml version="1.0" encoding="UTF-8"?>
<!--PIBM V1.1 (04-02-2026)-->
<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/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/2023-05-31/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.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">MDL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-03-19</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">MDL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-03-19</xbrli:startDate><xbrli:endDate>2026-03-19</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">MDL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">MARVEL DECOR LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:WhetherCompanyIsSME contextRef="MainD">true</in-capmkt:WhetherCompanyIsSME><in-capmkt:ISIN contextRef="MainI">INE575Z01010</in-capmkt:ISIN><in-capmkt:TypeOfMeeting contextRef="MainI">Board Meeting</in-capmkt:TypeOfMeeting><in-capmkt:TypeOfIntimation contextRef="MainD">New</in-capmkt:TypeOfIntimation><in-capmkt:DateOfProposedMeeting contextRef="MainD">2026-03-24</in-capmkt:DateOfProposedMeeting><in-capmkt:WhetherTradingWindowIsClosed contextRef="MainD">true</in-capmkt:WhetherTradingWindowIsClosed><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-03-19</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure contextRef="MainI">Trading Window shall remain closed from the intimation of this notice up to 48 hours from the time of disclosure of outcome of the above meeting to the Stock Exchanges.</in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure><in-capmkt:DateOfReport contextRef="MainI">2026-03-19</in-capmkt:DateOfReport><in-capmkt:Agenda1 contextRef="MainD">Other business</in-capmkt:Agenda1><in-capmkt:Agenda2 contextRef="MainD">Fund raising</in-capmkt:Agenda2><in-capmkt:ModeOfRaisingFunds contextRef="MainD">To be ascertained</in-capmkt:ModeOfRaisingFunds><in-capmkt:RemarksWebsiteDissemination contextRef="MainI">* To consider the alteration of Articles of Association of the Company
* To consider the proposal of fund raising by the company by way of issue of Warrants on preferential basis or through any other permissible mode, subject to such approvals as may be required, including the approval of the members of the company.</in-capmkt:RemarksWebsiteDissemination></xbrli:xbrl>
