Hello @Utkarsh Bachchan - Welcome to Microsoft Q&A community forum!
Am afraid to say, Azure VM backup doesn't support shared disks. Refer to support matrix guide here - https://learn.microsoft.com/en-us/azure/backup/backup-support-matrix-iaas#vm-storage-support
For shared disks, Azure Backup is available through Azure Disk Backup. Check the support matrix URL - https://learn.microsoft.com/en-us/azure/backup/disk-backup-support-matrix#limitations
Feel free to reply, if you have any further questions in this matter!
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