The incident took place when a tyre of the ambulance burst and it hit a motorcycle coming from the opposite direction, City Superintendent of Police (CSP) Manjeet Singh said.
Two persons identified as Prakash Jatav (30) and Manoj Jatav (32) died on the spot, he said.
Rambaran who sustained injuries was admitted in a hospital, the officer said, adding the ambulance driver remained unhurt.
A case has been registered in this regard and investigations are underway, Singh added.