@Shiv Patel I believe you have created a model from Azure form recognizer studio using an API version greater than v2.1
The logic apps connector only supports integration with models created with REST API v2.1 and hence it is unable to list the model when it connects to your FR resource since the API version cannot be configured for newer models. Please see the note on top of this page for details.
If you are using the model created with v2.1 and still the same error is shown, then the status of model not found or not ready implies that the model failed to train successfully.
I hope this helps!!
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