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Hi Anil,
Thank you for the reply.
When applying draft versions, it will look like below in the version history:
If you move back to the major version, the draft version (for example 3.1 above) will be retained. And if someone else edits the file after that, the version 3.1 will become 4.0 and the user's editing will become 5.0 like below:
Best regards,
Jazlyn