Police sources said that eight persons were killed in the incident, while several others were injured. The death toll could go up, they said.
Several injured persons were rescued from under the debris and were being sent to different hospitals in the vicinity.
"Two persons were brought dead and two others were in serious condition," Kolkata Medical College and Hospital superintendent Sikha Banerjee said.
"More injured persons are still being brought in to the hospital," Banerjee said.
Several passenger vehicles, including a bus, were trapped under the debris, as operations were on to clear the rubble and bring out those trapped under.
Huge cranes and other rescue vehicles were pressed into service to clear the debris and bring out the injured.
A PTI correspondent who was at the accident site, saw a number of severely injured persons lying in a pool of blood.
The incident took place at around noon at the busy Rabindra Sarani-K K Tagore Street crossing near Burrabazar, the trading hub and one of the most congested areas in the city.
A number of hawkers operate under the flyover which is also used for parking several vehicles.
(REOPENS CAL 6)
The government sought Army help in the relief and
rescue operations after which four columns of rescue personnel were deployed.
Each column has three medical teams with two ambulances and surgeons along with nursing assistants, a defence official said.
The state government has opened an emergency helpline with number 1070 from the state secretariat Nabanna to provide information related to those injured or killed in the mishap.
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