Cut approximately 1 inch (which is about 3 ounces) from a 14 ounce block of paneer and shred it using a hand grater. Set aside for now.
Cut the rest of the paneer into triangles that are ¼ inch thick OR whatever shape you'd like.
Melt ghee in a pan on the stovetop over medium heat and once hot, add cumin seeds and when they turn brown, add the spices all at once, quickly stir, then add the water and the onion masala and bring it to a simmer and let it cook together for 3-4 minutes, or until the onion masala melts.
Add the cashew powder and all but ¼ cup of the shredded paneer (reserve ¼ cup shredded paneer for garnish) and mix well.
Add 3 tablespoons of heavy cream, dried fenugreek leaves, and the paneer and cook for 1-2 minutes or until the paneer is warmed through.
Garnish with the ¼ cup shredded paneer, the remaining 1 tablespoon of cream, and cilantro.