Hello @Sunil Gautam ,
Thanks for your post! I spoke to my team and based off your screenshots and investigation I did with our Azure Backup Team, we think it's best for you to work more closely with our Support Engineers by providing the MARS agent logs to get this issue resolved.
If you already have a support plan then to find the root cause of the issue here, I recommend you reach the Azure technical support team by raising a support ticket as mentioned here.
Otherwise, if you don't have a support plan then to find the root cause of the issue here, please send an email with subject "Attn:Carlos" to AzCommunity@microsoft.com with your subscription ID and a link of this question for context and we will assist you with engaging Azure technical support.
Thank you again for your time and patience throughout this issue.
Thanks!
Carlos V.