As the bus driver lost control, the vehicle rammed into the boundary wall before it overturned, police said.
One person was killed on the spot while 16 others sustained injuries, six of them seriously, the sources said.
The injured included six women and four children.
The staff members of a missionary school were returning from picnic when the incident took place, sources said.
While six seriously injured were rushed to Sadar Hospital, Medininagar, the rest were undergoing treatment in a private hospital.
