As per Place of supply provisions, there is no restriction on raising Interstate invoice for the services which is being utilised in actual place of consumption which is Delhi in this case. Your transaction is actually leasing of the plant and machinery and not any property which is altogether a different transaction and tax rate of GST also to be charged accordingly. Asset(AC) should be in ownership of Ludhiana Co. and Delhi Co. can enter into the lease transaction but Valuation aspect needs to be taken care of if both are related parties.
Conclusion - No restriction on raising interstate invoice and no restriction further on availment of its ITC.
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