kamesh,
This code is based on a previous installation of the DynamicImages mod. Without that, it would be completely different. That said, the code would work with a bit of work.
The main edits you should be concerned with is func.product.php to get the correct file parameter and writing the call to the thumb function. The code below is passing variables in but you could also pass in hard values as well to test it out. All the parameters are defined in the func.thumb_imp.php.
Code:
{thumb file=$tmbn_url longside=$image_x width=$image_x special=$special load=$load email=$email class=$class alt=$alt id=$id name=$name}