That’s the illusion which surely few have and time is ripe to fade this from memory.
In PI you are not looked at your suit but definitely on dressing sense. How you carry yourself is more important than designer or branded suit.
Occasion is to test your soft skills in PI. More often than less, you are on anvil of getting either selected or rejected if observed unsuitable on the parameter of communication skills, positive attitude, lack of will power, undesired gestures with confused responses.
It is different issue now to take that wakeup call and rejuvenate yourself to take the journey forward and reappear in MBA exams with fresh ideas supported with mission statement of achieving MBA admission.