Dry roast coriander seeds, cumin seeds and dry coconut powder separately at low to medium heat till golden brown in color. Once its done, let it cool down. Grind them together to make dry powder. Keep it aside.
Clean rice with water for 2-3 times and soak the rice for 20 minutes. Keep all other ingredients ready.
Heat oil in deep pan at medium heat. Add cumin seeds and bay leaves, wait till crackles. Add cinnamon stick, green cardamon and ghee in to it. Add green chili, saute for few sec. Add chopped vegetables and little salt. Saute it for one more minutes.
Add coriander leaves, cashew nuts, Goda masala powder, masala powder (which we prepared in step 1), chili powder, little turmeric powder and yogurt. Saute it for one minutes.
Drain soaked rice and add to the pan and add 3 & 1/4 cups of water. Add salt and mix with spatula. Check the salt level and adjust based on your taste.
Cover it and let it cook at low to medium heat till all the water gets absorbed and rice & vegetables are cooked properly.
Garnish with fresh grated coconut. Hot yummy flavorful masala bhaat is ready to be served for lunch or dinner.
Masala bhaat tastes awesome with Maharashtrian kadhi.