On a medium flame, heat 2 tablespoons of oil, and add cinnamon stick, cardamom, clove, Bay leaf, and saute for a minute.
Now add prepared onion paste into it, mix thoroughly and cook till it drys out, just keep stirring in between.
Now add fresh tomatoes puree, Turmeric Powder, Coriander Powder, Chilli Powder, mix well and cook on a medium flame, till mixture drys out(starts leaving oil).
Cook the mixture until it dries out and leaves the oil. Reduce flame, and add green peas. Mix them well.
Add grated khoya and mix well, until khoya gets melted with spices well.
Add water (1-2 cups) or as per required thickness, and cook on medium heat for another 10 minutes.
Now add garam masala and Kasuri methi and mix them well, Finally, add makhana and cook for 2-3 minutes over low flame.
Khoya matar makhana is ready to serve.