I had installed this component on our development server, where we were able to create the master and salve sites.
Now, client moved the entire site from development to live.
As this component writes hardcode links in few config files, we had to change those while moving the site from development to live.
Now the problem is, the master site is not at all showing up. A blank page displays also the administrator section is displaying a blank page.

Can anyone help me in resolving this issue. I need to make this site live by tomorrow.

When you move from one environment to another one, you can generally delete all the symbolic links and let JMS Multisites rebuild them when the rules defines are correctly defined in JMS Templates associated to the slave.

A blank pages is the symptom of a PHP syntax error.
If you are using cPanel, you perhaps find a file "error_log" that may provide you additional info on the PHP Syntax error.