Heat ghee or butter with oil on a medium high in a frying pan or a wok until simmering. Add cumin and mustard seeds and let them sizzle, 30 seconds. Lower the heat to medium. Sprinkle saffron threads over oil while crushing them with your fingertips. Sauté saffron in fat until fat picks up color, about 30 seconds. Next add whole spices with bay leaf and sauté for 30 seconds.
Add onions and sauté those until edges are brown, about 2 minutes. Add garlic, ginger and green chili, and sauté those for 1 minute. Next add garam masala and paprika or chili powder and sauté those for 30 seconds.
Increase heat to high. Add vegetables and stir fry those for 2 to 3 minutes until vegetables soft but still crunchy. Add cooked rice and season with salt. Stir fry rice with vegetables until coated with spices, about 1 to 2 minutes. Next add peas and stir to combine with rice. Lower the heat to low. Cover the pan or wok with a lid and let everything cook together to blend all the flavors for 2 to 3 minutes. Before serving garnish with cilantro. Serve warm with cucumber raita.
Recipe by Lovely Masala at http://www.lovelymasala.com/vegetable-biryani/