Hi Prashant,
Thanks for getting back with the result of how it all worked, as that's the best validation, no? I'm really glad it worked out for you, and it seems you have a good foundation now for the migration and other work you have planned.
With regard to whether you need to keep/migrate your existing (new) split-off Java instance, or whether you can just install a fresh, clean, new one on Sybase ASE, I can't say for sure, but given that you haven't been using the Java instance to this point, presumably there's no customization or significant configuration in it that you need to keep. Therefore, I would expect there is no reason you couldn't just abandon the old one and install a fresh new one when you're ready on the new DB platform. In fact, I think that's a better idea, as it's much more likely to be clean and well-functioning when installed fresh with the latest tools, versions, etc.
Regards, and happy holidays!,
Matt