Hi siyamudheen
To update Techone theme:
Step 1: Please go to the http://themeforest.net/download to get the latest theme version ( included TechOne' documentation)
Step 2: Backup your site( Include codes + Database)
Step 3: From the dashboard>>Appearance>>Theme, you need to activate the default template( Ex; Twenty Seventeen theme)
( you can refer this document, it's the same http://test.kutethemes.net/koolshop_doc/#mazanoupdate)
Step 4: Click on the TechOne theme and then click Delete( look down in the right). NOTE: DO NOT delete theTechone-Child
Step 5: Return the dashboard choose Plugins then deactive theTechone Toolkit, Slider Revolution, WPBakery Visual Composer and delete them.
Step 6: Return the Appearance menus choose Theme>>Add New>>choose your latest theme version>>Install
Step 7: Return the Plugins menus>>New>>and choose the techOne Toolkit (Slider Revolution, WPBakery Visual Composer plugins are the same)>>Install>>and activate them.
Please do it and let me know.
Thank you and Have a great day!