She was found in an unconscious state and admitted to hospital for treatment, police said.
Her father alleged that she was first drugged and then gangraped. The accused also videographed her while she lay at the college union room.
He named several people in the complaint, including three students, one of whom is believed to be a leader of the Trinamool Chhatra Parishad (TMCP) - the student wing of the ruling Trinamool Congress in Bengal.
Deputy commissioner of police (Asansol-Durgapur) Subrata Gangopadhyay said: "We have arrested a man following a complaint of gangrape. The accused has been produced before a court and we have sought his custody."
Gangopadhyay, however, refused to divulge the identity of the accused and said police were looking for at least four more suspects.
The father of the victim accused local Trinamool leaders of putting pressure on him to cover up the case.
"They have asked me not to lodge an official complaint. They are all trying to cover it up," he said.