Add the water and cashews to a blender and blend until smooth. Set aside for now.
Add the ghee, onion masala and spices to a saucepan over low heat and allow it to simmer for a couple minutes (if using frozen masala then simmer until the masala melts).
Pour the blended cashews into the saucepan along with the paneer and cook until the paneer is heated through.
Stir in the cream and serve.