<?xml version="1.0" encoding="UTF-8"?>
<!--CIMG V1.1 (21-04-2026)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-11-30/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Changes_In_Management/2025-11-30/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/2025-11-30/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-2025-11-30.xsd"/><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">OPAL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-07-25</xbrli:startDate><xbrli:endDate>2026-07-25</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">OPAL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-25</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="I_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">OPAL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-25</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ChangeInManagement1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">OPAL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-07-25</xbrli:startDate><xbrli:endDate>2026-07-25</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ChangeInManagementAxis"><in-capmkt:ChangeInManagementDomain>ChangeInManagementDomain1</in-capmkt:ChangeInManagementDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="I_ResignationOfStatutoryAuditor1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">OPAL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-07-25</xbrli:instant></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ResignationOfStatutoryAuditorAxis"><in-capmkt:ResignationOfStatutoryAuditorDomain>ResignationOfStatutoryAuditorDomain1</in-capmkt:ResignationOfStatutoryAuditorDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:context id="D_ResignationOfStatutoryAuditor1"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">OPAL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-07-25</xbrli:startDate><xbrli:endDate>2026-07-25</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember dimension="in-capmkt:ResignationOfStatutoryAuditorAxis"><in-capmkt:ResignationOfStatutoryAuditorDomain>ResignationOfStatutoryAuditorDomain1</in-capmkt:ResignationOfStatutoryAuditorDomain></xbrldi:typedMember></xbrli:scenario></xbrli:context><xbrli:unit id="pure"><xbrli:measure>xbrli:pure</xbrli:measure></xbrli:unit><in-capmkt:NSESymbol contextRef="MainI">OPAL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">Opal Luxury Time Products Limited</in-capmkt:NameOfTheCompany><in-capmkt:ScripCode contextRef="MainI">000000</in-capmkt:ScripCode><in-capmkt:MSEISymbol contextRef="MainI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="MainI">INE520N01012</in-capmkt:ISIN><in-capmkt:WhetherDisclosureFiledForListedEntity contextRef="MainD">true</in-capmkt:WhetherDisclosureFiledForListedEntity><in-capmkt:RelationshipWithTheListedEntity contextRef="MainD">Listed Entity (self)</in-capmkt:RelationshipWithTheListedEntity><in-capmkt:WhetherEventOrInformationIsAnOutcomeOfBoardMeeting contextRef="MainD">false</in-capmkt:WhetherEventOrInformationIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEventOrInformation contextRef="MainD">2026-07-24</in-capmkt:DateOfOccurrenceOfEventOrInformation><in-capmkt:TimeOfOccurrenceOfEventOrInformation contextRef="MainD">18:12:00</in-capmkt:TimeOfOccurrenceOfEventOrInformation><in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported contextRef="MainI" unitRef="pure" decimals="0">1</in-capmkt:NumberOfPersonsOrEntitiesForWhomChangeIsBeingReported><in-capmkt:DateOfReport contextRef="MainI">2026-07-25</in-capmkt:DateOfReport><in-capmkt:TypeOfChange contextRef="D_ChangeInManagement1">Cessation</in-capmkt:TypeOfChange><in-capmkt:CategoryOfCessation contextRef="D_ChangeInManagement1">Resignation</in-capmkt:CategoryOfCessation><in-capmkt:CategoryForChange contextRef="D_ChangeInManagement1">Auditors</in-capmkt:CategoryForChange><in-capmkt:DesignationOfDesignatedPerson contextRef="D_ChangeInManagement1">Statutory Auditor</in-capmkt:DesignationOfDesignatedPerson><in-capmkt:SalutationOfDesignatedPerson contextRef="D_ChangeInManagement1">M/s.</in-capmkt:SalutationOfDesignatedPerson><in-capmkt:NameOfDesignatedPerson contextRef="I_ChangeInManagement1">Bharat J Rughani &amp; Co. Chartered Accountants</in-capmkt:NameOfDesignatedPerson><in-capmkt:EffectiveDateOfReasonOfChange contextRef="I_ChangeInManagement1">2026-07-24</in-capmkt:EffectiveDateOfReasonOfChange><in-capmkt:WhetherInformationToBeObtainedFromTheStatutoryAuditorUponResignationAsPerSEBICircularCIRCFDCMD11142019Dated18October2019 contextRef="D_ChangeInManagement1">true</in-capmkt:WhetherInformationToBeObtainedFromTheStatutoryAuditorUponResignationAsPerSEBICircularCIRCFDCMD11142019Dated18October2019><in-capmkt:WhetherTheFurtherDisclosureForResignationOfStatutoryAuditorOrDirectorOrKMPsOrSMPOrComplianceOfficerIsToBeFiledAlongWithThisDisclosure contextRef="D_ChangeInManagement1">true</in-capmkt:WhetherTheFurtherDisclosureForResignationOfStatutoryAuditorOrDirectorOrKMPsOrSMPOrComplianceOfficerIsToBeFiledAlongWithThisDisclosure><in-capmkt:NameOfTheStatutoryAuditorOrFirm contextRef="I_ResignationOfStatutoryAuditor1">Bharat J Rughani &amp; Co. Chartered Accountants</in-capmkt:NameOfTheStatutoryAuditorOrFirm><in-capmkt:DateOnWhichTheStatutoryAuditorWasAppointed contextRef="I_ResignationOfStatutoryAuditor1">2012-09-24</in-capmkt:DateOnWhichTheStatutoryAuditorWasAppointed><in-capmkt:DateOnWhichTheResignationLetterWasReceivedFromStatutoryAuditor contextRef="D_ResignationOfStatutoryAuditor1">2026-07-24</in-capmkt:DateOnWhichTheResignationLetterWasReceivedFromStatutoryAuditor><in-capmkt:EffectiveDateOfResignation contextRef="I_ResignationOfStatutoryAuditor1">2026-07-24</in-capmkt:EffectiveDateOfResignation><in-capmkt:DateOnWhichTheTermOfTheStatutoryAuditorWasScheduledToExpire contextRef="I_ResignationOfStatutoryAuditor1">31-03-2021</in-capmkt:DateOnWhichTheTermOfTheStatutoryAuditorWasScheduledToExpire><in-capmkt:DateOfSubmissionOfLatestAuditReportOrLimitedReviewReportSubmittedPriorToResignationByTheAuditor contextRef="I_ResignationOfStatutoryAuditor1">31-03-2021</in-capmkt:DateOfSubmissionOfLatestAuditReportOrLimitedReviewReportSubmittedPriorToResignationByTheAuditor><in-capmkt:PeriodForWhichTheResigningAuditorWillIssueTheAuditReportOrLimitedReviewReportAsOnTheDateOfResignationWithReferenceAsPerSEBICircularCIRCFDCMD11142019Dated18October2019 contextRef="I_ResignationOfStatutoryAuditor1">31-03-2021</in-capmkt:PeriodForWhichTheResigningAuditorWillIssueTheAuditReportOrLimitedReviewReportAsOnTheDateOfResignationWithReferenceAsPerSEBICircularCIRCFDCMD11142019Dated18October2019><in-capmkt:DetailedReasonForResignation contextRef="I_ResignationOfStatutoryAuditor1">Completion of the maximum permissible tenure under Section 139(2) of the Companies Act, 2013. No Annual General Meeting was held after the financial year ended 31 March 2021 as the Company was under the Corporate Insolvency Resolution Process before the Hon'ble NCLT; accordingly, the office did not formally conclude at an AGM. Upon the new management's request to conduct the audit, which the firm is statutorily precluded from undertaking, the firm is tendering this resignation. There is no other reason for the resignation.</in-capmkt:DetailedReasonForResignation><in-capmkt:EffortsMadeByTheAuditorPriorToResignation contextRef="I_ResignationOfStatutoryAuditor1">Not Applicable</in-capmkt:EffortsMadeByTheAuditorPriorToResignation><in-capmkt:WhetherTheInabilityToObtainSufficientAppropriateAuditEvidenceWasDueToAManagementImposedLimitationOrCircumstancesBeyondTheControlOfTheManagement contextRef="I_ResignationOfStatutoryAuditor1">Not Applicable</in-capmkt:WhetherTheInabilityToObtainSufficientAppropriateAuditEvidenceWasDueToAManagementImposedLimitationOrCircumstancesBeyondTheControlOfTheManagement><in-capmkt:WhetherTheLackOfInformationWouldHaveSignificantImpactOnTheFinancialStatementsOrResultsOfListedEntityAsWellAsMaterialSubsidiary contextRef="D_ResignationOfStatutoryAuditor1">NA</in-capmkt:WhetherTheLackOfInformationWouldHaveSignificantImpactOnTheFinancialStatementsOrResultsOfListedEntityAsWellAsMaterialSubsidiary><in-capmkt:WhetherTheAuditorHasPerformedAlternativeProceduresToObtainAppropriateEvidenceForThePurposesOfAuditOrLimitedReviewAsLaidDownInSa705Revised contextRef="D_ResignationOfStatutoryAuditor1">NA</in-capmkt:WhetherTheAuditorHasPerformedAlternativeProceduresToObtainAppropriateEvidenceForThePurposesOfAuditOrLimitedReviewAsLaidDownInSa705Revised><in-capmkt:WhetherTheLackOfInformationWasPrevalentInThePreviousReportedFinancialStatementsOrResultsAndOnWhatBasisThePreviousAuditOrLimitedReviewReportsWereIssued contextRef="D_ResignationOfStatutoryAuditor1">NA</in-capmkt:WhetherTheLackOfInformationWasPrevalentInThePreviousReportedFinancialStatementsOrResultsAndOnWhatBasisThePreviousAuditOrLimitedReviewReportsWereIssued><in-capmkt:AnyOtherFactsRelevantToTheResignation contextRef="I_ResignationOfStatutoryAuditor1">There are no concerns whatsoever in connection with this resignation.</in-capmkt:AnyOtherFactsRelevantToTheResignation><in-capmkt:WhetherTheAuditorHasProvidedAResignationLetterAlongWithTheNecessaryDetailsAndDeclarationAsPerSEBICircularCIRCFDCMD11142019Dated18October2019 contextRef="D_ResignationOfStatutoryAuditor1">true</in-capmkt:WhetherTheAuditorHasProvidedAResignationLetterAlongWithTheNecessaryDetailsAndDeclarationAsPerSEBICircularCIRCFDCMD11142019Dated18October2019></xbrli:xbrl>
