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<!--REG30PARAB V1.0 (01-06-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2026-04-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Para_B_Of_Part_A_Of_Schedule_III/2026-04-30/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/2026-04-30/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-2026-04-30.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543220</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-19</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_StageOfTheLitigationIsConcludedOrDisputeIsResolved"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543220</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-19</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIIIAxis">in-capmkt:StageOfTheLitigationIsConcludedOrDisputeIsResolvedMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><xbrli:context id="I_DevelopmentInRelationToProceedings"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/ScripCode">543220</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-08-19</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:explicitMember dimension="in-capmkt:StageOfTheLitigationIsConcludedOrDisputeIsResolvedAsPerSubPara8OfParaBAxis">in-capmkt:DevelopmentInRelationToProceedingsMember</xbrldi:explicitMember></xbrli:scenario></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">MAXHEALTH</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">MAX HEALTHCARE INSTITUTE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">543220</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE027H01010</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Pendency of any litigation(s) or dispute(s) (Sub-para 8-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="I_StageOfTheLitigationIsConcludedOrDisputeIsResolved">Regularly till the litigation is concluded or dispute is resolved</in-capmkt:SubTypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-08-19</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">11:30:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-08-19</in-capmkt:DateOfReport><in-capmkt:StageOfDisclosureOfLitigationOrDispute contextRef="I_DevelopmentInRelationToProceedings">Development in relation to proceedings</in-capmkt:StageOfDisclosureOfLitigationOrDispute><in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade contextRef="I_DevelopmentInRelationToProceedings">This is in continuation to our earlier intimation dated August 7, 2026 regarding petitions, including interlocutory petition, filed before the Hon'ble National Company Law Tribunal, Cuttack Bench by the legal representatives of BRS Capital Two Pte. Limited against Kalinga Hospital Ltd. ("KHL"), a subsidiary of the Company, the other shareholder of KHL from whom the Company acquired the majority equity stake and the Company.

The matter was listed for hearing on August 19, 2026 at 11.30 am (IST).</in-capmkt:DetailsOfLitigationOrDisputeForWhichDisclosureIsBeingMade><in-capmkt:DateOfOriginalLitigationDisclosure contextRef="I_DevelopmentInRelationToProceedings">2026-05-19</in-capmkt:DateOfOriginalLitigationDisclosure><in-capmkt:DetailsOfDevelopmentInRelationToTheExistingProceedings contextRef="I_DevelopmentInRelationToProceedings">The matter was heard by the Hon’ble National Company Law Tribunal, Cuttack Bench (“NCLT”) on August 19, 2026. During the course of the hearing, the legal representatives of BRS Capital Two Pte. Limited sought an adjournment of the matter. 

Accordingly, the Hon’ble NCLT adjourned the hearing and posted the matter for further hearing on September 8, 2026.</in-capmkt:DetailsOfDevelopmentInRelationToTheExistingProceedings><in-capmkt:LitigationAgainstParty contextRef="I_DevelopmentInRelationToProceedings">Others</in-capmkt:LitigationAgainstParty><in-capmkt:DetailsOfOtherLitigationAgainstParty contextRef="I_DevelopmentInRelationToProceedings">Against Kalinga Hospital Ltd., a subsidiary of the Company, the other shareholder of KHL from whom the Company acquired the majority equity stake and the Company</in-capmkt:DetailsOfOtherLitigationAgainstParty></xbrli:xbrl>
