Wash and drain the rice. Soak it in 3 cups water for 30 minutes. Soak the paneer cubes in hot water for 20 minutes. Mix saffron with warm milk and set aside.
In a thick bottom pan add the drained rice, 2 ½ cup water and ½ teaspoon salt. Cook till about 70% done.
Remove from flame and drain the water. Set aside.
In a large pan add half the ghee. Drain the paneer and arrange them in a single layer in the pan.
Brown them and turn them over. Brown them on all the sides and remove. Set aside.
Add the remaining ghee and heat. Add the mustard and cumin seeds, cashews and whole spices. Sauté for a minute till the spices pop.
Add onions and peppers. Sauté till the onions are tender.
Next add the carrots and peas. Mix well.
Add in the yogurt and mix well till the yogurt is cooked.
Add in the paneer pieces. Mix well. Mix in salt and biryani masala.
Next goes the cooked rice. Mix without breaking the rice. Also add the saffron infused milk and kewra essence. Cover and cook for 8-10 minutes on low flame.
Serve topped with cilantro and mint leaves with some yogurt or raita on the side.