What are the things to looks for or capture when there are blockages in Sybase
when i posted this question, i was quite not aware of what to do next after you have captured information related to blockages like, SPID, Showplan and SQLText. 

answering this question, just in case someone comes across same doubt. 

Once you have found the details during blockages, next steps is to find out what caused it in first place. 

sp_sysmon is tool you need to look into. 
sp_sysmon provides a detailed report of the activity on your system, and
provides you with a number of ways to specify the type of information you
want to receive, the time interval during which data for the report will be
collected, and other options that determine how the report is generated.

The sp_sysmon report consists of a number of separate sections. You can
run sp_sysmon to generate the complete report or only one of the
individual sections. You can also specify a time interval over which the
report should run or execute the stored procedure yourself at the beginning
and end of the desired time period.