Hi Nishith,
As Rama has mentioned, there is no native mechanism for version control in HANA i believe. But if you are looking to distribute developed objects between multiple users, i think we can have multiple inactive versions of objects created which can be taken over by "take over" or "switch ownership".
Not sure how relevant it is in this context. still worth reading. have a look at below blog Raj Kumar Salla
Regards,
Nikhil Joy