A total of 12 probationary officers were in the boat, which capsized last night. The officers had come from Indore where they are currently undergoing a training.
Seven of the boat's occupants were rescued by the fishermen in the area, while bodies of five officers and the cook were fished out today by divers after an all-night search.
Khargone District Collector Navneet Kothari and Superintendent of Police R P Singh rushed to the spot.
The five deceased officers were identified as Premkiran (Kerala), Vijay Shyam Sharma (Delhi), Vishal Rajendra, Sourav Mohan (Kerala) and Jitendra Singh Yadav (Kanpur).
The cook was identified as Riyasat Ali (Indore). All the victims were between 30 to 35 years old.
The bodies would be handed over to the relatives after the post mortem.