Catalyzes the formation of licodione and 2-hydroxynaringenin from (2S)-liquiritigenin and (2S)-naringenin, respectively (PubMed:9708921). Can also convert eriodictyol to luteolin (PubMed:9708921). liquiritigenin + O2 + reduced [NADPH--hemoprotein reductase] = 2 H(+) + H2O + licodione + oxidized [NADPH--hemoprotein reductase] a flavanone + O2 + reduced [NADPH--hemoprotein reductase] = a 2-hydroxyflavanone + H(+) + H2O + oxidized [NADPH--hemoprotein reductase] (2S)-naringenin + O2 + reduced [NADPH--hemoprotein reductase] = (2S)-2-hydroxynaringenin + H(+) + H2O + oxidized [NADPH--hemoprotein reductase] Secondary metabolite biosynthesis; flavonoid biosynthesis. By fungal elicitor. Belongs to the cytochrome P450 family.