[sarthak choukse]

Yeah I agree here, set your output to PNG or TIFF and enable “RGB + Alpha” in the render settings.

[sarthak choukse]

Unfortunately, Premiere Pro can be picky about audio channels when relinking. One workaround is to create a new sequence with the MOVs and then copy your edits from the MXF sequence over. If you really want to batch relink, you might try using a script or plugin that can force the relink without worrying about audio channels.