Hi Venkatesh,
There is no change version created from the rejection in sourcing. Also no change is recorded on the SC document level. This is because no change to the actual document happens, by this I mean no SC details are changed. The SC has simply been removed from the sourcing cockpit for further processing.
However I am sure it is possible to create a custom development to add text to the SC on rejection. But as per standard it is no offered.
Kind Regards,
Lisa