Hi @Rakesh Kumar Joshi ,
Is the recipient exteranl users? I could reproduce your issue if the recipient is external user.
To solve this, we need to change the organization-level external sharing setting to Anyone.
Please refer to the following articles for more:
https://learn.microsoft.com/en-us/sharepoint/turn-external-sharing-on-or-off
https://learn.microsoft.com/en-us/sharepoint/change-external-sharing-site
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