Welcome to the CD Freaks forum, Shankar
I've encountered a few people here who brought a Lite-On recorder from region to another where the TV system is different and encountered the same issue. While you may be able to change the recording mode to 'PAL', unfortunately the TV Tuner in your unit is an NTSC tuner and cannot be configured to pick up PAL, at least without physically replacing the tuner.
There is an alternative you can try, assuming that it is possible to switch your recorder to 'PAL' as the TV type. To do this, go into the Setup menu, select the 'System' option on the left, select 'TV Type' on the sub-menu and change this to 'PAL'. If your DVD recorder supports PAL recording, this should at least allow you to record from its AV inputs. If this works out, then you can use an external TV tuner such as a VCR to tune in the channel and use the Lite-On recorder to record from it.
While I have come across converters to convert broadcast transmissions from VHF to UHF, there is no PAL to NTSC broadcast signal converter that I'm aware of, possibly due to the complexity of such a device. Also, any PAL to NTSC AV converters I have come across are either very expensive (more than the price of a typical DVD recorder) or do a poor job at the conversion.