Heat oil and butter, then sauté cloves, cardamom, onions, garlic, and ginger.
Add tomatoes and cashews; cook until soft, then blend to a smooth paste.
In the same pan, heat more oil and butter, add bay leaf, green chili, and chopped onion.
Add turmeric, chili powder, coriander, cumin powder, and salt; cook the masala base.
Pour in the blended paste and mix well; add water and simmer.
Stir in cream, paneer cubes, garam masala, and kasuri methi.
Let it simmer until the paneer is soft and the gravy thickens.
Garnish with fresh coriander and serve hot.