Cube the paneer into half inch pieces and deep-fry them on medium high heat. Fry until the paneer becomes a light golden color. Take the paneer out and place on a paper towel so the extra oil is absorbed.
Mix cornstarch with three tablespoons of water and keep aside.
Blend the tomatoes and ginger to make a puree.
Heat the oil in a saucepan. Test the heat by adding one cumin seed to the oil. If the cumin seed cracks right away, the oil is ready. Add the asafetida (hing), cumin seeds, bay leaves and cinnamon and stir-fry for a few seconds.
Add the tomato paste, coriander, turmeric, chili powder and paprika. Cook until the mixture reduces to half.
Add the green peas and 1/4 cup of water. cook on medium heat pan should be covered. When the peas are tender, add the salt and paneer.
To thicken the gravy add corn starch mix. Cover the pan and let it cook for 3-4 minutes.