The incident took place at Birkoni village when the SUV, carrying 14 people, was heading from Baroli of Saraipali-Basna area towards Raipur in the wee hours, a senior police officer said.
The victims were on the way to Damakheda for participating in the annual fair organised by the followers of saint Kabir from February 14, he said.
Four persons died on the spot while the fifth one succumbed on the way to the hospital.
Seven persons who were critically injured were admitted at Dr Ambedkar Memorial Hospital here.
The truck driver fled from the spot, the official said.
The Chief Minister Raman Singh expressed grief over the incident and directed administration to provide all possible assistance to the victims. Mahasamund district administration announced ex-gratia of Rs 25,000 each to the kin of deceased.
