However, no casualties were reported in the incident.
The mishap occurred at around 12:50 PM in the Mulund College of Commerce, an official said.
The blaze was brought under control by Fire personnel within 25 minutes.
"As soon fire was noticed, an alert was sounded and students came out of their classes. Three water tankers along with the a team of fire brigade jawans were rushed in and fire was brought under control," a Mulund police station official said.
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