can anybody help me to write a C# or vb.net program which converts shape file (polygon) to text file using arcobjects
If your requirement is to see the bounds & attributes information in a readable way , i would suggest you to convert from SHP to geojson.
If that is the case, you dont really need arcobjects , a simple web application would do.
Have you tried using the geoprocessor to call the Table to Table Converstion tool?
Table to Table
How to Run a Geoprocessing Tool (ArcObjects)
Retrieving data ...