After starting obeii service it was hanging and never went to started state. On Analysis nothing notable found in SAWlog.log. On futher digging found following message in the event viewer..
" The description for Event ID in source[oracle BI Utility ] cannot be found. The local computer may not have the neccessary registry information or message DLL files to display messages from a remote computer. The following information is part of the event . Invalid error message catalog d:\Apps\OracleBI\server\Locale\NQErrorMsg.cat"
Troubleshooting : NQErrorMsg.cat is in corrupted state(instead of NQErrorMsg found NQErrorMsg_L_en.cat). Replace the files from install setup.