Give legal notice to the owner of the property where the tower is erected marking a copy to the Municipal Authorities wherein the position of the structure may be explained besides your apprehensions.
You may report the matter to the Telecom Regulatory Authority of India (TRAI) duly giving the details of the Cell Phone Company name. Of course, in the process of permitting the erection of the Cell Towers TRAI is not involved but when the matter is brought to their notice, it is likely that they act in the interest of the public.
Ultimately, it is in the realm of the local Civic Authorities, who should respond when the structure is not safe.
I Hope Government comes out with proper guidelines relating to the erection of the Cell Towers in Residential localities, duly taking the height of the tower and if it falls and its consequences.