The boat capsized in Arabian sea and Coast Guard is assisting in rescue operations.
The tragic incident took place 2 nautical miles from the sea-shore in Dahanu.
Local BJP MLA Manisha Choudhary claimed that the boat was ferrying around 40 children. Remaining are still missing, Search operation is going on, ' Palghar SP Manjunath Singe said.
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25 students have been rescued while the operationas are still underway.
Local authorities are now carrying out search and rescue operations.
Two local fishermen boats were the first to reach out to the capsized boats. Helicopters from Daman, which is near Dahanu, have also been launched, a Coast Guard spokesperson said.