Soak rice in water for 30min and drain well
Soak saffron in two teaspoons of water or warm milk
Heat oil in a pan and deep fry the onions till golden and crisp, keep aside
Bring about five cups of water along with black cardamoms, bay leaves, cloves, cinnamon, dry ginger powder, fennel seeds, asafoetida and salt to a boil
Lower heat and simmer for 15~20min or till reduced to half of stock
Remove from heat and strain the stock and discard the spices
Heat ghee in a pan
Add cumin seeds, cardamom and fry them until cumin seed change color
Add soaked rice and the stock
Bring to a boil, lower heat, cover and cook till the rice is almost done
Add paneer cubes, raisins and cashew nuts, and gently stir
Sprinkle soaked saffron and fried onions over the rice
Serve hot