"I bought shares of Satyam a couple of weeks back when the company back-footed from the plan to buy Maytas. I thought it was good bet since it was one of the country's top IT companies and the share price had dipped to reach Rs 170. I was tempted to sell it when it touched Rs 800 but a power cut kept me away from trading online. Now I am stuck. I certainly don't want to trade my shares for Rs 20. I am waiting and closely watching what happens after the government takes control," said Augsto, who owns 400 Satyam shares. Computer Society of India (CSI) President Deepak Shikharpur, who himself bought a small number of shares, said that many shareholders from the city lost lakhs of rupees overnight after Satyam shares crumbled and were now wrenching their hands.

“What happened is really unfortunate. Many people I know from the city have purchased shares based on the company's good balance sheet. Some purchased in huge numbers. There are also people who have taken bank loans on the guarantee of these shares. They are passing through a tough time," he said.