No, you wouldn't need to drop your M.Com (distance learning) to obtain a Transfer Certificate (TC) for your MBA college.

A TC is issued to a student when they permanently discontinue their studies at an institution. Since you're continuing your education through distance learning M.Com, it's not considered permanent discontinuation.

Most colleges, especially for MBA programs, accept a Migration Certificate instead of a TC for students already enrolled in another program. A Migration Certificate verifies your enrollment at the previous institution and allows you to register at the new one.

I hope it helps!