Hi Muddassar,
It is possible to migrate directly MII 12.0 to 15.0 .
Work around -->In Existing NW 7.1 Server can be upgraded to NW 7.3. Once that is done you needs to deploy the MII 15.0 has 4 dependencies SCAs on the upgraded NW server using SUM tool or JSPM (Not sure with JSPM option)
Refer the following note number : 1693127.
Regards,
Adhikesh