Heat oil and butter in a pan, then sauté cloves, cardamom, onion, garlic, and ginger.
Add tomatoes and cashews, cook until soft, then blend into a smooth paste.
In the same pan, heat oil and butter again, and add bay leaf and green chili.
Add finely chopped onion, sauté until golden, then stir in all powdered spices.
Pour in the masala paste, mix well, and cook until the oil starts to separate.
Add water and bring the curry to a simmer; then add paneer cubes.
Stir in cream, crushed kasuri methi, and chopped coriander.
Let it simmer for 2–3 minutes and serve hot with naan or rice.