Ingredients for paneer marination. Cut paneer into cubes.
Take a mixing bowl, add hung curd, turmeric powder, lime juice, salt, kasoori methi, Kashmiri red chili powder, oil, and ginger & garlic paste & mix it very well. Add cut bell peppers, onion and Paneer cubes into the mixing bowl.
Mix it very gently and keep it aside for 20 minutes.
After 20 minutes, arrange the Paneer and capsicum in a skewers. Preheat the oven in broil mode. Line baking tray with aluminium foil and grease some oil on top. Place arranged paneer and bell peppers skewers on lined tray. Place it in preheated oven.
Grill it until paneer and bell peppers gets golden brown color on all sides by flipping regularly. If you want, you can grill it in a griddle on stove. Once it done, remove grilled paneer from oven. let it cool.
For Gravy
Meanwhile start preparing for gravy. Soak the cashew nuts in hot milk for 20-25 minutes, then make a paste and keep it aside.
In a pan heat 4 tbsp oil at medium heat. Add cumin seeds and bay leaves, when it splutter then add chopped onion and little bit salt.
Saute the onion till it becomes golden color.
Add ginger & garlic paste and saute for 1 minute then add chopped tomatoes and puree. Cook for 5 minutes till tomatoes gets mushy ( If you want a smooth gravy than grind this mixture and strain it).
Add coriander-cumin powder, turmeric powder, red chili powder, garam masala, Kashmiri red chili powder and salt. Saute for 5 to 6 minutes at medium heat.
Add cashew nut paste, saute for 2-3 minutes. Add 1 cup of water. Stir and boil it for 2 minutes.
Once it starts boiling, add all grilled vegetables and Paneer.
Cook on low flame for 4 minutes. Add fresh cream, kasoori methi and ketchup, and mix it well.
Turn off the heat. Garnish with fresh chopped coriander leaves.