Take 2 tsp black pepper corns and dry roast on low heat for couple of seconds.
Crush them coarsely in mortar pestle. Keep aside.
Add 2 big onions, 1 bay leaf, 2 black cardamoms, 3 green cardamoms, 3 cloves, 1 inch piece of ginger, 4-5 garlic cloves, small piece of mace, small piece of cinnamon, 15 cashew nuts, 2 green chilies and 2 cup water in a pan.
Put a lid and boil for 15 minutes.
Remove bay leaf, black cardamoms, cinnamon and green chilies.
Sieve to remove the water.
Spread the ingredients so that they cool down immediately.
Once cool down completely, add into the grinder jar.
Also add 3/4 cup curd and 2 tbsp cream or malai.
Blend to a smooth puree. Keep aside.
Add 2 tbsp butter in a pan.
Add paneer and sprinkle pinch of salt, pinch of black pepper powder and 1/2 tsp kasuri methi. Roast from both the sides until paneer turns slightly brown.
Take the paneer out of pan.
Add 2 tbsp oil in the same pan in which paneer was fried.
Pour the onion paste in pan and mix.
Cook for 10 minutes. Put a lid because onion paste will splash out of the pan.
Add fried paneer.
Further add salt to taste, 1 tsp garam masala and 2 tsp black pepper powder, which was initially coarsed.
Simmer for 2 minutes.
Paneer Kali mirchi is ready. You may also add the green chilies over the top, which were earlier boiled. Serve hot.