<?xml version="1.0" encoding="UTF-8"?>
<!--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">532737</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-09</xbrli:instant></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">EMKAY</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">EMKAY GLOBAL FINANCIAL SERVICES LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">532737</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE296H01011</in-capmkt:ISIN><in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">Key licenses or regulatory approvals (Sub-para 12-Para B)</in-capmkt:TypeOfEventAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII contextRef="MainI">New</in-capmkt:TypeOfAnnouncementAsPerRegulation30ParaBOfPartAOfScheduleIII><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting contextRef="MainI">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfTheBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainI">2026-09-08</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainI">17:53:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:DateOfReport contextRef="MainI">2026-09-09</in-capmkt:DateOfReport><in-capmkt:EventTypeOfKeyLicenseOrRegulatoryApproval contextRef="MainI">Regulatory approvals</in-capmkt:EventTypeOfKeyLicenseOrRegulatoryApproval><in-capmkt:StageOfDisclosureOfKeyLicenseOrRegulatoryApproval contextRef="MainI">Granting</in-capmkt:StageOfDisclosureOfKeyLicenseOrRegulatoryApproval><in-capmkt:NameOfRegulatoryOrLicensingAuthority contextRef="MainI">National Stock Exchange of India Limited (“NSE”) 
and BSE Limited (“BSE”).</in-capmkt:NameOfRegulatoryOrLicensingAuthority><in-capmkt:BriefDetailsOfApprovalOrLicenseObtainedOrWithdrawnOrSurrendered contextRef="MainI">Trading approval granted for equity shares allotted to Promoter of the Company upon conversion of warrants issued on preferential issue basis.</in-capmkt:BriefDetailsOfApprovalOrLicenseObtainedOrWithdrawnOrSurrendered><in-capmkt:ImpactOrRelevanceOfApprovalOrLicenseToListedEntity contextRef="MainI">Upon receipt of trading approval, the equity shares are admitted to dealings on the Stock Exchanges from 9th September, 2026, however as per SEBI ICDR Regulations, these equity shares shall be locked in for period of 18 months from the receipt of trading approval letters</in-capmkt:ImpactOrRelevanceOfApprovalOrLicenseToListedEntity><in-capmkt:ReasonsForActionOfGrantingOrWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals contextRef="MainI">NA</in-capmkt:ReasonsForActionOfGrantingOrWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals><in-capmkt:EstimatedImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity contextRef="MainI">NA</in-capmkt:EstimatedImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity><in-capmkt:PeriodOfKeyLicenseOrRegulatoryApproval contextRef="MainI">NA</in-capmkt:PeriodOfKeyLicenseOrRegulatoryApproval><in-capmkt:ActualImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity contextRef="MainI">NA</in-capmkt:ActualImpactOfKeyLicenseOrRegulatoryApprovalOnListedEntity><in-capmkt:CorrectiveActionsTakenByTheListedEntityPursuantToTheWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals contextRef="MainI">NA</in-capmkt:CorrectiveActionsTakenByTheListedEntityPursuantToTheWithdrawalOrSurrenderOrCancellationOrSuspensionOfKeyLicensesOrRegulatoryApprovals></xbrli:xbrl>