Existing Intel based virtual box not spinning up in Apple M1 pro:developer preview Arm64 hosts

[avenger09]

I used VirtualBox with vagrant in MacBook Pro Intel Based and existing box which is hosted(persisted) in my server.
So i used to pull the .box from this self hosted server and pass it vagrant and used to spinup the vm.

After I switched to MacBook Pro with Apple M1 pro chip things are failing
-- Initially virtualbox was not released to this, after that recently developer preview released to Arm64 (M1/M2) hosts

Now im able to install virtualbox and trying to spin the vm using the existing vagrantfile but at the end getting this error and box is moving to 'Aborted' state

==> sandbox1: Clearing any previously set forwarded ports...
==> sandbox1: Clearing any previously set network interfaces...
==> sandbox1: Preparing network interfaces based on configuration...
sandbox1: Adapter 1: nat
sandbox1: Adapter 2: hostonly
==> sandbox1: Forwarding ports...
sandbox1: 80 (guest) => 8020 (host) (adapter 1)
sandbox1: 22 (guest) => 2222 (host) (adapter 1)
==> sandbox1: Running 'pre-boot' VM customizations...
==> sandbox1: Booting VM...
==> sandbox1: Waiting for machine to boot. This may take a few minutes...
sandbox1: SSH address: 127.0.0.1:2222
sandbox1: SSH username: vagrant
sandbox1: SSH auth method: private key
sandbox1: Warning: Connection reset. Retrying...
There was an error while executing `VBoxManage`, a CLI used by Vagrant
for controlling VirtualBox. The command and stderr is shown below.

Command: ["showvminfo", "a4604d19-67f5-4130-8a39-54301bd3af35", "--machinereadable"]

Stderr: VBoxManage: error: The object is not ready
VBoxManage: error: Details: code E_ACCESSDENIED (0x80070005), component SessionMachine, interface IMachine, callee nsISupports
VBoxManage: error: Context: "COMGETTER(BandwidthControl)(bwCtrl.asOutParam())" at line 2695 of file VBoxManageInfo.cpp


Appreciate any help to resolve this issue.

[mpack]

Expected behaviour. See the M1/M2 sticky at the top of this forum.