Two complaints have been received, one by students of Kalka Dental College and Hospital and the other by Bajrang Dal volunteers, police said.
The volunteers have demanded their arrest, police said, adding an investigation has been launched.
The administration of the college, located in Partapur area, has said that a committee has been constituted to probe the incident.
Meanwhile, some students were reported to have left their hostel.
"After India's defeat in the Champions Trophy final, some Kashmiri students are alleged to have raised pro-Pakistan and anti-India slogans," Anand Kumar, the additional director general of police, Meerut Zone, told PTI.
As of now, a case has been registered by the police and further action would be taken only after initial inquiry.
The principal of the college told the press that a committee has been formed to probe the matter and if the students are found guilty, stern action will be taken against them.
The college has around 60 students from Jammu and Kashmir.