In a large deep sauté pan, heat 1 tablespoon ghee over medium heat. Once hot, add the paneer cubes and fry until golden brown on both sides, approximately 2-3 minutes. Remove the paneer from the pan and set aside.
In the same pan, add the chopped onions, green chilies, ginger, garlic, and cashews. Sauté until the onions become translucent, about 5-6 minutes.
Stir in salt, Kashmiri red chili powder, turmeric, coriander powder, garam masala and a tablespoon of oil. Cook for 1-2 minutes to allow the spices to release their flavors.
Add the chopped tomatoes and one cup of hot water. Cover and cook until the tomatoes have softened, about 5-8 minutes. Remove from heat and allow to cool.
Transfer the cooled tomato and spice mixture to a blender. Blend until smooth.
In the same pan, heat another tablespoon of ghee. Add the cumin seeds and let them sizzle. Pour the blended sauce back into the pan. Reduce the sauce over medium heat, stirring occasionally, until it thickens and oil starts to separate.
Add the green peas and mix in 2 cups of hot water, adjusting the consistency as needed. Season with salt and cook for an additional 2 minutes.
Mix in the fried paneer, allowing it to heat through and absorb some of the flavors of the sauce.
Garnish with chopped cilantro and a drizzle of cream. Serve warm.