"The incident occurred near Chherikhedi village on NH-6, when its occupants were coming from Mandir Hasaud side towards Raipur last night," Raipur Superintendent of Police (SP) O P Pal said.
According to eyewitnesses, the SUV was at a very high speed while descending a highway overbridge, when its driver suddenly lost control.
The vehicle skidded off the road, overturned and rammed into a roadside tree, the SP said.
Those killed were identified as Roshan Tharwani (25), Durgesh Dwivedi (19), Gopal Shahwat (23) and Rahul Sawant (20), all residents of Raipur.
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"Others injured were admitted to different private hospitals here," the official said.
According to the police, the accident's magnitude indicates that the SUV was at a speed over 100 kmph.
A case has been booked in this connection and a probe is on.