I have exported my VM to an ova using ovftool. If I directly use this ova at the same location, I am able to deploy it.
But if I move it to different machine and try to deploy, it fails after same time saying "md5 check sum is failed".
Any idea how can I avoid this issue?
Try copying the ova to the different machine and ensure that the md5 checksum stays intact.
Follow the steps in the article: VMware Knowledge Base to check if the md5 checksum is changing after the copy process.