Police said the SUV mounted the pavement while trying to avoid an approaching car from a nearby lane and partially tilted on one side at around 4:30 am near Rashbehari Avenue crossing.
Vikram and Sonika, who were on the driver's seat and front seat respectively, were brought out from the mangled car by locals and rushed to a private hospital, police said.
While Sonika was declared dead, Vikram was admitted to the hospital, police said.
A pall of gloom descended as the news of the mishap spread and many Bengali film actors including Dev rushed to the hospital on E M Bypass.
A hospital doctor said Vikram was stable now and shifted to general bed from ICU after CT scan. He had injuries on head, leg, and other parts of body, the doctor said.
Sonika, a popular face in city and Mumbai modelling circuits, had also been hosting a prime time show on a national channel.
Vikram, whose last film Khoj (The Lost) had been screened in several film festivals, had also acted in 'Elar Char Adhyay' and 'Ami Ar Amar Girlfriends'.