Hi Rajesh,
Yes it can be done. Generally the idea is to put a kernel and ramdisk image on a tftp server. Boot the remote system from those tftp'd files, then ssh in and complete the setup. If the remote system doesn't support PXE (or even if it does) you can use grub to netboot the system.
You can get tftpboot grub images from
http://i30www.ira.uka.de/~ud3/mkgrubdisk/ . These images get menu.lst by tftp, so you can adjust grub's startup commands from the tftpboot dir when it doesn't work first time ;-)