Wash the basmati rice thoroughly under running water until the water runs clear. Soak the rice in enough water for 30 minutes, cover and keep aside.
Separate the methi leaves from the stems. Clean and wash them multiple times to remove dirt. Chop the leaves finely and keep aside.
Prepare the paste by grinding soaked cashew nuts, poppy seeds, garlic cloves, green chilies, ginger and fresh coriander leaves with a little water into a smooth paste. Keep aside.
Heat ghee in a pressure cooker on medium flame. Add cumin seeds, shahjeera, hing, bay leaves, whole dry red chilies, cloves, peppercorns and black cardamom. Stir until the spices release aroma.
Add sliced onion and chopped green chilies. Sauté until the onions turn soft and translucent.
Add the prepared paste along with cumin powder and garam masala. Mix well and cook until the paste thickens slightly and becomes fragrant.
Add fresh green peas and chopped methi leaves. Stir and cook until the methi softens.
Add fresh cream and mix gently. Drain the soaked rice and add it to the cooker. Add salt and sugar if using. Mix carefully so the rice grains remain intact.
Add 2 cups water and let the mixture come to a gentle boil. Once boiling, close the lid of the pressure cooker and cook on medium flame for two whistles.
Switch off the flame and allow the pressure to release naturally before opening the lid.
Heat oil in a small pan. Roast chopped cashew nuts until golden brown and remove. In the same pan, lightly pan fry paneer cubes until golden on all sides.
Open the cooker and add roasted cashews, paneer cubes, boiled green peas and fresh coriander leaves. Gently mix and serve hot.