It will be a great help if anyone can suggest me a process or automation/tool to re project a raster in jpeg format by taking the projection values and coordinate system from a preexisting raster which exist in .img format. The reason of asking the needful is as both the images are of the same area but are opening at different location. The .img format is having the correct parameters.
I am not sure what exactly you are trying to do, because if the image image is correctly projected you should not need to do a translate. Are you trying to georeference the image? Anyway I will provide same quick snippets of accomplishing both (via python)