If it is indeed made by peerless, it should be viewed as something good.
Peerless in India makes some awesome drivers as mentioned by Cranky. Some diy efforts with peerless drivers in India are far far better than most of these Chinese made (so called UK designed) budget speakers available in the market today. It all depends on the kind of business venture by peerless. If it is some side business, forget it.
From my experience with JPW some 6 years back, they are on par with wharfedale.