The incident took place when the locals were crossing the river on a country boat to reach a Shiv temple on the other side for Mahashivratri celebrations.
"Most of the people in the boat have been rescued. However, three children including a boy and two girls aged between 10 to 15 years, remained untraced so far," a police officer said.
The boat capsized as it lost balance in mid river, or may be due to over crowding, the police said.
The condition of three rescued persons is stated to be critical, the police said.
The people were going to take part in the Mahashivratri celebration at Doudeswar temple, an ancient Shiv Temple in the district.
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