In the last 30 minutes, the Air India defence collapsed under relentless attack of the Dempo forwards and an unmarked Ranty scored from a goalmouth melee to increase the lead on the hour-mark.
East Bengal discard Chettri also scored on his maiden appearance for Dempo converting a penalty kick after Beto was brought down in the box. Nine minutes later, Beto's swirling free-kick crashed into the top net as Dempo put the final nail in Air India's coffin.
Earlier in the day in a group four match, Shillong's Lajong surprised Mahindra with a spirited performance and dominated the second half.
Lajong had a quiet first-half but increased the tempo after the change of sides and Mahindra goalkeeper Subashish Roy Chowdhury did well as the Mumbai outfit escaped by splitting points.