@Shailendra Abhyankar Currently the speech to text feature of Azure speech service does not provide an option to readily download an SRT file format from uploaded speech file. But, I have found an interesting thread on stack overflow for a similar question that can help you create one with python SDK of speech service.
The configuration in the code is basically using the request_word_level_timestamps() option to get timestamps from the audio and then converting them to SRT file format.
A more readily available option also on Azure is to use the video indexer service to get closed captions or subtitles from audio/video files. This option though will provide URL of the file which can be downloaded.