The victim, identified as Satyendra Kumar, was the student of Mumbai's Advanced Training Institute.
Kumar left behind a suicide note in which he blamed seven seniors for harassing him.
The letter said that Kumar was being tortured at the college and his hostel for the past three months. Even, he could not appear in a recent mid-term examination due to the harassment.
The institute is located on V N Purav Marg in the Sion-Chunabhatti and comes under the jurisdiction of Nehru Nagar police station.
Jhalwar Police said said they would send the report to the Mumbai police where a case under Section 306 of IPC could be registered against the students mentioned in the suicide note.