VMware vMotion issue - the virtual machine requires hardware features that are not supported or disbaled on the target host

I recently faced the below issue when trying to migrate a powered on VM (with Hardware Version as 8) from Cisco M3 Blade (Esxi 5.5) to M2 Blade (Esxi 5.5). Whereas when tried to migrate VM (Hardware version 7) between the same set of hosts, it'sworking fine.
The virtual machine requires hardware features that are not supported or disbaled on the target host: General Incompatibilities.