Wash and soak the rice for half hour. In a pan, heat ghee and add asafetida, cumin seeds, bay leaves, cloves and black pepper kernels, cashews and raisins. Now add water, along with coriander powder, garam masala, red chili powder and salt. Place a lid and let the broth come up to a boil. Now add rice and peas. Stir and place the lid back. Rice should be ready in 10-12 minutes. Do not stir often to avoid breaking of rice. Serve with Raita or Mint Chutney!