The mishap took place when the driver of the car, carrying three occupants, lost control over it while negotiating a curve, they said.
Later, the ill-fated vehicle skidded off the road and fell into the 500 ft deep gorge.
In the mishap, two persons were killed on the spot, while the injured admitted to Indira Gandhi Medical College (IGMC) hospital in a serious condition.
The deceased have been identified as Mohinder Singh (21) and Pradeep Kumar (25), police added.