Hello @anil kumar ,
Welcome to Microsoft Q&A Platform. Thank you for reaching out & hope you are doing well.
As mentioned in this doc, the IP forwarding setting must be enabled for every network interface that is attached to the virtual machine that receives traffic that the virtual machine needs to forward. A virtual machine can forward traffic whether it has multiple network interfaces or a single network interface attached to it. While IP forwarding is an Azure setting, the virtual machine must also run an application able to forward the traffic, such as firewall, WAN optimization, and load balancing applications.
So, yes you need to enable IP forwarding on all the NICs attached to the VM.
Kindly let us know if the above helps or you need further assistance on this issue.
----------------------------------------------------------------------------------------------------------------
Please "Accept the answer" if the information helped you. This will help us and others in the community as well.