[Would] TTL metering would available with this?
No. The Sunpak 24DX was made in the days before TTL became prevalent in flash technology. That doesn't mean you can't use it in an automated mode, however, since it has an autothyristor (Auto) mode. You set the iso and aperture setting you're using on the camera, and the flash can use an external sensor to automate the cutoff of the light output. It's what photographers used to automate flash power setting before TTL.
Is there any possibility or a practical way of using this after referring the ASN, distance readings from the back of the flasher body?back side of the sunpak auto 24dx
Yes. You might be able to use it, it's just not as easy to use as a modern TTL-capable flash like, say a Nissin i40 or Olympus FL-600R/Panasonic FL360L, and there are a lot of brand new cheap flashes around that will work in full manual or TTL around. So, purchasing a used unit with more limited capabilities may not be the the best purchase.
I mean, in practical photographic session, do photographers use hardware like this?
Yes, some do. I'm googling up a sync voltage on the 24DX of 11V, so it should be safe for the E1 (i.e., won't fry the camera hotshoe with super-high voltages, like some vintage flashes have). But. The feature set on this flash isn't particularly good, especially for on-camera usage. It has no tilt, it has no swivel. It can only deliver direct flash.
See also: What features should one look for when selecting a flash?
This might give you an idea of why it could well be worth saving up to have a higher budget to go shopping for a flash. A flash can be far more transformative to your photography than any lens--it may be appropriate to budget accordingly.