 Oberoi was born in a Punjabi Sikh family in Bhaun, a minor village of Jhelum District (now Chakwal District), Punjab, British India.When he was six months old, his father, a contractor in Peshawar, died, leaving his mother with few resources.After attending schools in his village and nearby Rawalpindi, he passed the Intermediate College Examination in Lahore, but was unable to continue attending classes because of lack of finances.