The bodies were discovered hours later when a farmer happened to pass by the tube well and saw the children in an unconscious state.
He rushed to the village and informed their parents, who reached the spot and informed the police. The electric supply was disconnected and the children were taken to a nearby hospital, where the doctors declared them dead.
Superintendent of Police (SP) Yamuna Prasad and Assistant Superintendent of Police (ASP) Pankaj Pandey said that all the four children, two of them siblings, had gone to Tejpal Saini's tube well pool to take bath when they got electrocuted.
The children have been identified as Vishnu, 11, and Shivam, 7 (both brothers), Dharmveer, 11, and Ganesh, 11.
Hayatnagar Station House Officer (SHO) Ranveer Singh said: "Prima facie it appears to be negligence on the part of the Electricity Department. A live wire connected to a nearby transformer snapped and fell into the tube well pool."
The SP said they sent the bodies for post-mortem and were probing the matter. "Sensing the anger of villagers with the power Department, we have deployed police force to maintain law and order in the area," he said.
District Magistrate Avinash Krishan Singh said that Sub-Divisional Magistrate Deependra Yadav was leading an inquiry in the tragedy.
"He will submit his report within three days. Besides, I have also instructed power Department executive engineer D.S. Sharma to submit his report in this connection," the District Magistrate told reporters.
( With inputs from IANS )