Hello salman9 and welcome to the Dubai visa forum
1. As far as I know, before a company can cancel a Dubai residence visa
of an employee who is absent, they have to file an absconding case.
2. An NOC might not help you avoid a Dubai ban
anyway as you have been working for less than 1 year.
3. I can't speak for the Dubai immigration department
. You could contact their telephone helpline to ask what problems you might face by cancelling your visa. Normally the employer does the visa cancellation anyway. I expect a fine is possible, and probably a one year ban as a result of the absconding complaint. Jail and/or a life ban doesn't sound likely to me but I'm not a lawyer or have anything to do with the legal system so I cannot say for sure.
4. You could also try contacting your old employer to explain that you want to cancel the visa and leave the UAE, perhaps they would consider removing the absconding complaint and cancelling your visa.