Heat oil in a broad non-stick pan, add paneer cubes and sauté on a low flame for 2 minutes. Remove from heat and set aside.
In the same pan add ginger garlic paste and sauté for a minute. Then add onion and capsicum and mix well.
Add chopped green chillies, turmeric powder, red chilli powder, coriander powder, cumin powder, garam masala powder and salt.
Cook on a medium flame for 5 minutes, while stirring occasionally.
Finally add the paneer cubes, mix gently and cook on a medium flame for one minute.
Add dry fenugreek powder and remove from the heat.
Serve hot with flavored rice or roti.