@Gowda, Hariprasad
Is your Nat gateway bound to the same VNET as Load Balance?
I have a test environment, and the configuration is working; below are some screenshots:
My environment
VNET name LABTEST-vnet
Address space 10.0.0.0/16
Subnet##
Default = 10.0.0.0/24
Subnet02 = 10.0.1.0/24
Default Subnet ##
VM = 10.0.0.4
LB = 10.0.0.254
Nat Gateway attached
SUBNET Connected Devices ##
LOAD BALANCE Configuration ##
NAT GATEWAY ##
INTERNAL VM Behind LB##
I hope this information helps. Make a comparison between environments, and check which Subnet your Natgateway is linked to. Natgateway does not allow linking subnets with IP address Basic SKU, Load balance Basic SKU..
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