Soak rice for 30 minutes. Drain and set aside. (While rice is soaking, prepare first step of paneer skewers.)
Heat the oil in a heavy-bottomed pot over medium heat, add cumin seeds, cloves, green and black cardamom pods, bay leaf, and turmeric, stirring constantly. When the seeds crackle, add the rice and salt and sauté for 2 minutes. Add 2 cups of water and bring to a boil. Cover, reduce heat to low, and cook for 10 to 15 minutes until the rice is done (water is all absorbed). Set aside.
In a heavy-bottomed skillet, over medium heat, heat the oil, add the cumin seeds and cloves. When the seeds crackle, add the ginger-garlic paste and sauté for a few seconds. Add the onions and sauté until golden brown. Add the tomatoes, veggies, cashew nuts, chili powder, garam masala, fenugreek leaves, and salt. Simmer until veggies are cooked and flavors absorbed. Add green peas, cover. Remove from heat.
In a medium bowl, combine the vegan mayonnaise, gram flour, ginger paste, garlic paste, red chili, turmeric, cumin, korma masala, kasuri methi, garam masala, fresh chopped coriander, salt, and one tablespoon of the mustard oil. Mix well to prepare the marinade. Add the paneer, onions, and green peppers to the marinade, making sure to coat all the pieces. Marinate for 15 minutes to absorb flavors.
Arrange the paneer, onions, and green peppers, alternating, on each of the 4 skewers (3 chunks of paneer, 2 pieces each of onion and green pepper on each skewer).
Heat a griddle or non-stick pan over medium heat. Add the remaining tablespoon of mustard oil to the hot pan. Sauté/grill the paneer skewers on all sides until they are lightly browned, approximately 4 to 5 minutes.
Heat the sizzler plate (cast iron plate) and place on its wooden tray. Arrange the rice and veggies on the hot plate. Place the 4 paneer skewers on top of rice and veggies. For a “sizzle” effect, mix small amount of oil and water and carefully pour onto a hot plate. Serve immediately. (If you do not have a sizzler plate setup, simply serve the paneer skewers on top of the rice and veggies on a hot serving plate.)
Note: For vegan option, substitute tofu for paneer.