Puys, I have been a silent follower so far but now I think I am in a position to add some value to the thread by posting my interview exp, which I had yesterday in Delhi.
I was given Panel 6 at 5:50pm at Dwarka. I reached the venue by 4:15pm as they had mentioned in the invite that we must reach at least an hour before the scheduled time for an another assessment. I already knew that another assessment is nothing but paragraph writing

When I reported at the reception, I was made to sign in a sheet for attendance and then immediately given a paper which had paragraph topic written on top of it. Topic was "Brutal". I looked around for a seat and found that at least 20 people were there, all holding a sheet of paper(paragraph), some were writing and some had already finished. I sat on a sofa and started writing my paragraph. Puys, its important that you practice few paragraphs on random topics beforehand.It really helps a lot.
After finishing my paragraph, I broke in casual chat with few people. None of them was from my background(IT) and I liked it in a way

There was a gal in advertising, one guy in "strategic consulting", another was a "climate change consultant", another was an investment banker. Seemed that I was the most inferior of the lot, just kidding

4 panels were running late from their schedule by approx 45 mins and unfortunately mine was one of them. At 5:50, a lady went to my panel who was scheduled for 5:10 !! I thought now I will have to wait until 6:30pm at least. The wait was killing and brutal. Suddenly at 6:30pm few people started joining our waiting lounge. At first, we thought that they are panel members who have just finished their respective panels. But no, they were some other party who had booked the halls(where interviews were happening) for some event. The interview was scheduled to be over by 6:20pm and the hotel staff had given booking to that party from 6:30pm onwards. It was ironical to see such a mismanagement when we had come for a management interview.They had kept just 10mins of buffer time! Soon, ISB people got into panic mode and a commotion started. Hotel staff was torn off between the other party and the ISB people. I thought my interview is gonna be cancelled or I may have to give it in some cafeteria

Anyways, it seems ISB had reserved a room somewhere else where I was called for the interview at 7pm.Basically it was a room in the hotel from which they had removed beds n all and made it look like a mini-hall.
I entered inside, there were 3 people, one lady among them. They greeted me well but didn't offer me chair on which I myself asked them "May I take a seat?"

Then my interview started -
Lady (L)- So you have been mostly in North, tell us more about it.
Me - I said I have been born and brought up in Varanasi and have done my schooling also from Varanasi and then moved on to South to do BTech.
Gentleman 2(G2) - "Was your degree 4yrs or 5yrs?"
Me- "4yrs"
G2- "Then did you do a job after class-12 or something? "
Me- "No, I took a yr break to prepare for IIT"
G2- "Oh, I see"
Gentleman 1(G1)- "So,you want to start this company of yours.Tell us more about it"
Me- Explained my business model and told them the background why I intend to start this company.
L - Asked a specific ques on what I will do in my business
Me- Answered
G1 - "Why MBA? Why dont you start now?"
Me - Answered well as I had prepared for this question.
L - "But the target companies you are focusing, are working well even without following your idea. They are doing good. Why will they join with you?"
Me - Answered to the best of my abilities to which she didn't seem to be much convinced
L - "I am still not convinced. Convince me"
Me - I gave them some rough figures and explained that if the companies follow my idea rather than follow the existing pattern, they will save money. On this all the 3 panelists, nodded their head in approval and the lady was all smile

There were many more questions on my plan and I guess I convinced them with my answers on all with few surprise questions where I was stumped but I think I handled them well.
After all this griiling by G1 and L, they seemed to have run out of questions. They turned to G2 and asked him if he has any questions to ask me. On this, he just asked me "What do you do in your current profile?" I answered this question well and highlighted the work done, achievements etc.
In the end,
L - "Any questions for us?"
Me - Asked two questions related to my B-plan and they duly answered those.
With a warm handshake in the end with all the panelists and some exchange of wishes and all,I left the room thinking how it went off and planning how to spend the next day (Sunday)

I think G1 and L were alums and G2 was from adcom. All except the lady looked quite senior.
I hope this exp will be of some use to you in your interviews. Just one statement I would say, "BE YOURSELF". Dont try to become someone else. If you are not passionate about something, dont say it just bcas you think its cool and help you in getting through.
All the best!