The Spaniard guided the Mariners to the final in their first-ever ISL season only to lose the title to Mumbai City FC.
The AIFF Player Status Committee stated that the transfer was valid pertaining to all the terms and conditions and that Naorem was completely fit to play at the time of transfer to ATK Mohun Bagan.
Ranawade had to be taken off the field in an ambulance during the ISL final between Mumbai and ATK Mohun Bagan.
Mumbai City FC rallied to down ATK Mohun Bagan 2-1 in the final.
ATK Mohun Bagan edged out NorthEast United FC 2-1 in the play-offs second leg to register a 3-2 aggregate win.
Idrissa Sylla headed in a stoppage-time header to help NorthEast United hold ATK Mohun Bagan to a 1-1 draw in the play-offs first leg.
Mumbai take on FC Goa, while Bagan clash with NorthEast United FC in the two-legged play-offs.
Trailing twice in a high-pressure clash, leaders ATK Mohun Bagan fought their way back and played out a thrilling 2-2 draw against 10-man Hyderabad.
ATK Bagan thus consolidated their position at the top further with 39 points from 18 matches.
The win propelled ATKMB, who have already qualified for the play-offs, to the top of the ISL table.