FIM To MIM upgradation

After installing MIM on fresh server(2012 r2) using old FIM Sync DB i'm getting following error at the time of synchronization :

CS to MV to CS synchronization failed 0x80230716

Error3/28/2016 12:01:39 PMApplication Error1000(100)

Log Name:      Application
Source:        Application Error
Date:          3/28/2016 12:01:39 PM
Event ID:      1000
Task Category: (100)
Level:         Error
Keywords:      Classic
User:          N/A
Computer:     --
Description:
Faulting application name: mmsscrpt.exe, version: 4.3.1935.0, time stamp: 0x559060a9
Faulting module name: mmsscrpt.exe, version: 4.3.1935.0, time stamp: 0x559060a9
Exception code: 0xc0000005
Fault offset: 0x00000000000032a1
Faulting process id: 0x1634
Faulting application start time: 0x01d188e995ca0133
Faulting application path: E:\APPS\Microsoft Identity Manager\2016\Synchronization Service\Bin\mmsscrpt.exe
Faulting module path: E:\APPS\Microsoft Identity Manager\2016\Synchronization Service\Bin\mmsscrpt.exe
Report Id: d38c00b8-f4dc-11e5-80fa-0ae236639831
Faulting package full name: 
Faulting package-relative application ID: 
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
  <System>
    <Provider Name="Application Error" />
    <EventID Qualifiers="0">1000</EventID>
    <Level>2</Level>
    <Task>100</Task>
    <Keywords>0x80000000000000</Keywords>
    <TimeCreated SystemTime="2016-03-28T12:01:39.000000000Z" />
    <EventRecordID>6554</EventRecordID>
    <Channel>Application</Channel>
    <Computer>--</Computer>
    <Security />
  </System>
  <EventData>
    <Data>mmsscrpt.exe</Data>
    <Data>4.3.1935.0</Data>
    <Data>559060a9</Data>
    <Data>mmsscrpt.exe</Data>
    <Data>4.3.1935.0</Data>
    <Data>559060a9</Data>
    <Data>c0000005</Data>
    <Data>00000000000032a1</Data>
    <Data>1634</Data>
    <Data>01d188e995ca0133</Data>
    <Data>E:\APPS\Microsoft Identity Manager\2016\Synchronization Service\Bin\mmsscrpt.exe</Data>
    <Data>E:\APPS\Microsoft Identity Manager\2016\Synchronization Service\Bin\mmsscrpt.exe</Data>
    <Data>d38c00b8-f4dc-11e5-80fa-0ae236639831</Data>
    <Data>
    </Data>
    <Data>
    </Data>
  </EventData>
</Event>

I encountered the same error earlier but installing latest version of .net framework resolved the issue.