"It's anybody's game. It's anybody's championship," said the 59-year-old. "Don't say East Bengal, Dempo or Churchill [Brothers] are the only contenders. Mohun Bagan can also win the I-League.
"If they (Mohun Bagan) win their remaining games and there are set-backs to other teams, they do have a chance. Mumbai FC is also doing well now," he added.
Following the 3-0 win over the green and maroon, Colaco preferred not to talk about the opponents but praised his side's performance.
"I'm happy that the boys started playing well and that's more important for me. I spoke to them [before the match]. When you play people expect a lot of things. You can't things for granted. You should keep up to your reputation.
"After the Federation Cup, I think this is the best game we have played. The boys lived up to their level of performance, so I'm very happy. What else would a coach want if you have played well," he continued.
"There are times when you play well and you lose, there are times when you play badly and you win. My boys really did well [against Mohun Bagan]."
The Dempo coach also took time to talk about Godwin Franco's man of the match winning performance in the absence of Climax Lawrence, although Colaco sets the two midfielders apart.
"Climax is Climax. I'm very happy that Dempo is playing as a team. Before the match, I told him (Franco) that 'You have to take the man of the match today.' The boy has got the ability, potential, but somehow it has not been coming. That expression was not quite there, and after the match I told him 'Today I knew that you will get it right.'," Colaco concluded.
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