The 16-year-old boy was rushed to a hospital nearby only to be declared dead on arrival.
The parents have alleged that two teachers had scolded their son at school for not completing a project and claimed that the school was trying to hide something.
In a statement available to the media, the English-medium school said that an investigation is underway.
"No school will ever target children and harass them. We are a child-friendly school and no teacher will react the way it is being claimed," it said.
This comes less than a month after a Jadavpur University student jumped to his death allegedly due to ragging by seniors at the hostel campus.