Hi @Nitish-M ,
Yes, serial console can take only 1 user at a time.
To add on to what @learn2skils has mentioned above, you can check the below image for your reference.
Here I have two tabs opened of the serial console of the same VM by two different Azure Active Directory users (with Contributor level access).
The two different AAD users are - Mark and Tony.
Mark has already established a serial console session using a local administrator account, so when Tony opens the serial console session, Tony is also logged into Mark's local admin account, whereas Mark's serial console session gets disconnected.
Similarly, if Mark would have logged in using his domain joined user account, then Tony would have viewed something like mark@vm_name, and Mark's serial console session would have got disconnected.
Hope this further clarifies your query. Thanks :)