To the same pot, add cumin seeds and bay leaves. Saute for a few seconds. Add the sliced onions with a pinch of salt. Saute until the onions begin to brown, about 4-5 minutes over medium heat.
Add all the vegetables: carrots, bell peppers, mushrooms and green peas. Mix well.
Add the spices, including turmeric, ground cumin, ground coriander, Kashmiri chilli powder (or cayenne or paprika), and garam masala. Mix everything together.
Stir in the ginger garlic paste. Cover the pot and let the veggies cook, over medium-low heat, for 4-5 minutes until the carrots are semi-tender.
Wash 1 ½ cups basmati rice in a strainer until the water runs clear. Add it to the pot. Mix the rice with the veggies and spices. Stir in raw cashews.
Add three cups hot vegetable stock or water and half the cilantro (1 tablespoon). Mix well, add salt to taste and taste the water - it should be slightly saltier than you want the pulao to be. Bring to a boil.
Lower heat to a simmer and give the rice one final mix. Arrange the tofu cubes on top. Cover the pulao with a lid and cook 15 minutes. Let the tofu paneer pulao stand, undisturbed, for 10 more minutes after turning off the stove.
Open and use a ladle to very gently mix the tofu with the rice and vegetables. Take care not to mash the grains. Garnish with remaining cilantro and serve hot.