Iphone 12 showing “SIM Failure”

I am getting sim failure issue in my Iphone 12, has anybody faced this issue?
I tried sim in other phone and its working also other sim in this phone are not working

Already tried:
Network settings reset, airplane mode toggle, hard restart but none is helping
After hard restart, sim started showing for 5 mins but went to sim failure mode again

Please share your views if anybody else has encountered similar situation and how did you fix this?