Chop the paneer into mid-size cubes, 3 inch by 3 inch.
When you are ready to cook, in a large, heavy-bottom skillet or pot, heat oil over medium heat. Add in cumin seeds, whole black cardamom pod, bay leaf, clove, and asafetida.
Add in 2 and 1/2 cups water. Add in ground fennel, ground turmeric, salt, ground ginger, ground cumin. Turn the heat to high.
Let the water come to boil and further add in paneer. Further, let it sauté and cook for 8 to 10 minutes until the water reduces and it enters the paneer. Finally, add in milk and let it boil for 2 to 3 minutes. Top off with mint leaves and turn off heat.
Transfer the cooked dish in a serving bowl and serve over steamed rice. Discard the bay leaf.