Heat a deep frying pan with vegetable oil. Deep fry the paneer cubes, and set aside.
Grind the onions, tomatoes and grated coconut. Mix well with fresh cream and cashew nut paste.
Heat a pan with oil, add cumin seeds and this cream paste. Stir and fry the paste for 5 minutes. Then add salt, garam masala, red chili and haldi powders. Mix these ingredients together and add water if required.
Add the fried paneer cubes and cook for 2 minutes.