Hi Geeth,
You can make use of the ORDER_SAVE Badi. This Badi is used to modify and apply certain checks while saving a transaction using the methods CHANGE_BEFORE_UPDATE, CHECK_BEFORE_SAVE etc.
If you do not want to save the transaction on certain conditions, then you can implement that in the CHECK_BEFORE_SAVE and raise do_not_save which will prevent saving the transaction.
Thanks & Best Regards,
Leon