Heat 2 tbsp of cooking oil and 1 tsp of ghee (clarified butter) in a pan over a medium flame and lightly fry 1 tsp of mustard seeds, 1 piece of bay leaf (large, torn in half), 4 pods of green cardamom, 2 pieces of cloves, 1 piece of star anise, 2 pieces of Marathi Moggu (Kapok buds / Indian Capers, inch size), 1 piece of cinnamon (2 inch stick, broken into small pieces), and 1 tsp of fennel seeds in it. Then add 3 pieces of green chilies (slit and cut from the middle) to it and fry for 10 seconds.
Now, add and sauté a string of curry leaves and 2 pieces of finely chopped medium size onions for about 2 to 3 minutes until the onions turn soft and start changing color. Then add 1 tbsp of ginger garlic paste to it and fry for 2 to 3 minutes more until the raw smell is gone.
Now, add 1 cup of tomato puree and sauté for 3 minutes before adding 1 cup each of small pieces of beans, carrots, tomatoes. Also, add a cup of peas, salt as per taste, ½ tsp of turmeric powder to it. Mix them all and cook for 3 minutes more. Follow it with 1 tsp of red chili powder, 1.5 tsp of coriander powder and ½ tsp of cumin powder and sauté for a couple of minutes more.
Now, add water as required, mix well, cover the pan and let the veggies cook for 7 to 8 minutes.
While the veggies cook, grind ½ cup of coconut (cut finely or grated), 10 pieces of cashew nuts, 1 tsp of poppy seeds (presoaked in water), and ½ tsp of fennel seeds in a mixer, adding water as required, to make a creamy paste.
Add this paste to the veggies. Mix well, cover and cook for 2 to 3 minutes more.
Then, add ½ cup of milk and mix nicely. Also, add ½ tsp of garam masala powder to it. Cover and cook for 2 minutes.
Finally, add a handful of finely chopped fresh coriander leaves to it and give it a nice stir. Cover the pan and let it rest for 5 minutes to attain its authentic color.
Your healthy and tasty homemade vegetable korma is ready. Transfer it to serving bowl and enjoy with steamed rice, pulao, or roti.