I have updated the Jconnect driver. The current version is 7.07. Still I am facing some differnt error.

07:47:01,145 INFO [org.teiid.CONNECTOR] (Worker10_async-teiid-threads10) SybaseExecutionFactory Commit=true;DatabaseProductName=Sybase IQ;DatabaseProductVersion=SAP IQ/16.1.020.528/10528/P/sp02/Sun_x64/OS 5.11/64bit/2017-07-14 13:57:25;DriverMajorVersion=7;DriverMajorVersion=0;DriverName=jConnect (TM) for JDBC (TM);DriverVersion=jConnect (TM) for JDBC(TM)/7.07 SP133 (Build 27244)/P/EBF24376/JDK 1.6.0/jdbcmain/DEBUG/Thu Mar 26 04:57:02 PDT 2015;IsolationLevel=1
07:47:02,529 INFO [org.teiid.RUNTIME] (Worker9_async-teiid-threads9) TEIID50030 VDB ST_VDB.1 model "SrcModel_6" metadata loaded. End Time: 12/14/17 7:47 AM
07:47:07,194 INFO [org.teiid.RUNTIME] (Worker8_async-teiid-threads8) TEIID50030 VDB ST_VDB.1 model "SrcModel_2" metadata loaded. End Time: 12/14/17 7:47 AM
07:47:58,354 INFO [org.teiid.RUNTIME] (Worker10_async-teiid-threads10) TEIID50030 VDB ST_VDB.1 model "SrcModel_4" metadata loaded. End Time: 12/14/17 7:47 AM
07:48:03,510 INFO [org.teiid.RUNTIME.VDBLifeCycleListener] (Worker10_async-teiid-threads10) TEIID40003 VDB ST_VDB.1 is set to ACTIVE

Error Log:
07:52:45,561 ERROR [org.teiid.PROCESSOR] (Worker7_QueryProcessorQueue425) Settto6t5XMi TEIID30019 Unexpected exception for request Settto6t5XMi.32: java.lang.NullPointerException
at org.teiid.core.types.ClobImpl.<init>(ClobImpl.java:116)
at org.teiid.common.buffer.LobManager.persistLob(LobManager.java:230)
at org.teiid.common.buffer.LobManager.updateReferences(LobManager.java:141)
at org.teiid.common.buffer.TupleBuffer.addTupleBatch(TupleBuffer.java:203)
at org.teiid.query.processor.BatchCollector.flushBatchDirect(BatchCollector.java:230)
at org.teiid.dqp.internal.process.RequestWorkItem$1.flushBatchDirect(RequestWorkItem.java:686)
at org.teiid.query.processor.BatchCollector.flushBatch(BatchCollector.java:224)
at org.teiid.query.processor.BatchCollector.collectTuples(BatchCollector.java:195)
at org.teiid.query.processor.BatchCollector.collectTuples(BatchCollector.java:146)
at org.teiid.dqp.internal.process.RequestWorkItem.processMore(RequestWorkItem.java:477)
at org.teiid.dqp.internal.process.RequestWorkItem.process(RequestWorkItem.java:349)
at org.teiid.dqp.internal.process.AbstractWorkItem.run(AbstractWorkItem.java:51)
at org.teiid.dqp.internal.process.RequestWorkItem.run(RequestWorkItem.java:275)
at org.teiid.dqp.internal.process.DQPWorkContext.runInContext(DQPWorkContext.java:284)
at org.teiid.dqp.internal.process.ThreadReuseExecutor$RunnableWrapper.run(ThreadReuseExecutor.java:119)
at org.teiid.dqp.internal.process.ThreadReuseExecutor$3.run(ThreadReuseExecutor.java:210)
at java.util.concurrent.ThreadPoolExecutor.runWorker(ThreadPoolExecutor.java:1142)
at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:617)
at java.lang.Thread.run(Thread.java:745)

That looks to be a bug with the getSubString method of Sybase clobs. They are returning null when it is not expected.