Carboxyl functionalized conducting polymer, poly(5-carboxyindole) and its uniform coating over carboxyl functionalized multiwall carbon nanotube (c-MWNT) are reported using in-situ chemical synthesis. c-MWNT is dispersed properly in ethanol along with monomer and adsorption of monomers over c-MWNT surfaces is achieved by acid base interactions (monomer and c-MWNT). Formation of polymer is confirmed by Nuclear Magnetic Resonance and interaction with c-MWNTs is investigated by Fourier Transform Infrared and thermal analysis. X-ray Diffraction and Scanning Electron Microscopy studies show tubular nanocomposite formation of uniform polymer wrapped nanotubes. Electrochemical study shows significant enhancement in conductivity and capacitance with a large decrease of charge transfer resistance in comparison to pure polymer. (C) 2010 Elsevier B.V. All rights reserved.