The deceased were identified as Vaju Koli and Karod Koli.
The bus was coming from the opposite direction, Junagadh tehsil police said.
Nagabhai Koli, their elder brother, was injured. The victims were residents of Swaminarayan society in Dolatpura town in Junagadh.
The mishap happened when driver of the private travels bus lost control, police said. He fled after the incident and police were looking for him.
A case of rash driving has been lodged against the driver.
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