Blend tomatoes, green chilies and ginger to make a puree. If you prefer mild take the seeds out of green chili before blending.
Heat the oil in a saucepan. Over medium high heat oil should be moderately hot, add the cumin seeds, and asafetida, as seeds crack add tomato puree, coriander, turmeric, sugar and salt.
Lower the heat to medium, stir the spice paste occasionally when it start thickening add cashew powder and cook until paste become the thick and start leaving the oil from side.
Add all the vegetables and 1/4 cup of water, mix it well. Cover the pan and let it cook for about 5-6 minutes over medium heat stir few times in between. Add paneer mix and cover the pan, cook for another 3-4 minutes. Vegetables should be tender not mushy.
Turn off the heat add garam masala and cilantro, stir and cover the pan for few minutes before serving.
Serve the vegetable over hot rice.