Hi Ramya,
Deleting transport request would not delete the Objects locked under it.
Consider Transport Request as a bus, Development objects as passengers and the entries locked under transport request as travel tickets. Lets say because of some technical reason bus can no longer operate, hence its marked as non operational(In our case if transport is not correct we delete it).
However the passengers can opt for another bus if they want to continue their journey but for that they will have to buy the tickets again i.e. Development objects will have to be locked in other transport if they need to be moved to other system.
However if passenger decides to cancel the journey(i.e development object is deleted) then even if bus reached the destination(Transport is released and migrated) , the passenger will not be there.
Hope I dint confuse in making things understandable.
Thanks
Deepak