Thanks Anthony for the help.
A way to solve this business case could be to use Raylight to set the prompt values, and save the document.
>> Will this be user ID and sessoin specific because multiple users can execute the report at the same time.
After that, use the "open document" feature to open the document.
>> Can you throw some more light on this, do you mean to call the open document using http call directly to the BO server or something else.
Definitely this approach looks promising and I will try doing it.