Firangi (27) and Vipin Gautam (21) were killed when the motorcycle they were riding was hit by the bus while they were allegedly trying to overtake it, Superintendant of Police (SP) Bharat Singh Yadav.
Firangi died on the spot while Vipin succumbed to his injuries on the way to hospital, police said.
The bus has been seized and the bodies sent for postmortem, the SP added.