Wrap the whole spices (bay leaf, cardamom, cloves, pepper) in a cheesecloth or muslin to make a bouquet garni

In a large pan, heat a tablespoon of butter and a tablespoon of oil. Add kashmiri red chillies, ginger garlic paste and saute for a minute

Add onions and cook for another 2-3 minutes. Next add cashews and poppy seeds

Once the onions turn translucent, add tomatoes and a teaspoon of salt. Cook the tomatoes for 2-3 minutes and then add the spice bouquet garni along with 1/2 cup water

Set the mixture aside to cool. Once cool, remove the bouquet garni and blend this mixture to a smooth paste. Add another cup of water while blending

In the same pan, heat the remaining butter and add the blended tomato onion paste

Add garam masala powder, chili powder, turmeric, ketchup, 1/2 teaspoon salt along with 1/2 cup water. Bring this to a boil

Carefully heat a piece of lump coal using tongs till red hot. Place the coal in a steel bowl and place this bowl in the pan in a way that it doesn't submerge. Pour a teaspoon of oil on top and as soon as it starts smoking, cover the gravy for 2 minutes

Mix kasuri methi and a tablespoon of cream in the gravy

Add paneer cubes. Mix and simmer for 2 more minutes

Top with more cream or butter

Serve hot!