Three-time champions Mohun Bagan were handed a 3-1 defeat at home.
Lal Kamal Bhowmick netted the only goal of the match as Mohun Bagan beat Hindustan Aeronautics Sports Club.
Mohun Bagan, despite being reduced to ten men, beat Mohammedan Sporting 1-0.
The 11-time champions edged out Dempo Sports Club 5-4 via sudden death to scrape into the final.
The Kolkata giants beat Sporting Clube de Goa 1-0 in the semi-finals.
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