Hi Gurumurthy,
Parameters are set before it sends the statement to database server to execute, although I think it checks several kind of possible problems like type matching and ... before doing so.
It is not simply possible to view what is final statement that prepared statements are going to send to database from java side without additional tools.
You can try to find some profiler in ORACLE side and view what is statement that arrives to ORACLE or you may use some kind of mediator like LogDriver available in
http://rkbloom.net/logdriver/ .