Thank you Wenjun and Ravi for the replies.
I am unable to edit my initial post but users are sure provided authorization to Select the data along with Insert / Update / Delete ... I should have made it quite clear 
In the UI side i have build a logic so that users are only displayed the records for which they are responsible (e.g. Contract data) based on their Business Roles and Project Assignments.
But if the user logs into HANA Studio and opens the table content then he/she will be able to view all the records and then the whole security of the application is lost.
I am sure this scenario should be common in any native application built on HANA.
Regards,
Nitin S.