Most of the colleges have a transfer policy. IET-DAVV, Indore is one among such colleges. In IET, fortunately, admission is allowed in the second year of engineering. The only two conditions are as follows.
There are chances that the transfer applications are piled-up more than the available number of seats. If this is the case, the transfer depends upon the merit of marks obtained in the first year.
You should contact IET and enquire about the conditions for student transfer. Sometimes reputed institutes do not accept a transfer from lesser-known institutes. For example, IITs do not take a transfer from a state university. So, do your research.