I thought I could help in some way.

Online procedure for IIFT 2009-11
After clicking on "Admission 2009" a window opens
Step 1: In the window "Please read the instructions carefully" with about 9 points are displayed.At the end of instructions "I Agree" .Clicking on it opens a new page.
Step 2: Data regd. Name of Applicant
Father's Name/Guardian's Name
Category
Gender
Date of Birth
Centre Details
Educational Qualification's
Payment Options DD or Credit Card
Foreign / NRI / Children of NRI candidates to also indicate (for GMAT)
Address
Experience (in months) as on 30th September, 2008
Create Password Verify Password
Enter all the above info.
If using payment option by "Credit Card":
Selection option "Credit Card". Automatically the Amount will get displayed based on Category.
Click "Submit"
Step 3: another page displaying
Application No.
Name of Applicant
Father's Name/Guardian's Name
Tab 'Confirm this!" appears.
Clicking on it connects to Axis Bank Credit Card Payment gateway.
Enter all Credit Card Details & submit.
Step 4: A message displaying the "Transcation Results" with receipt no. is displayed (after which it automatically redirects back to IIFT page).
Step 5: Page displaying "Application No."
Details you entered is displayed.
Barcode (with application no. side of it )
Name & address
place for Photograph
D.D/Receipt Number Amount Date of Issue
Signature of the Applicant.
PRINT tab is present at the bottom.
FINISH tab (after printing) which leads to "Status" with Application No. & password (u gave in first page)for u to key in.
The status shows that Payment was received.
P.S: I didnt use " DD" payment option. So can't say anything on it. But more or less it will be same but somemore details regd. Bank , DD no, Date need to be entered.
I used IE 6 .
The entire procedure took just 10 min or still less.(depends on the browsing speed)
Sorry for the long detailed procedure I have posted .