Wash, peel, and slice the lotus stems, then boil them until tender. Drain and set aside.
Heat mustard oil or ghee in a pan and sauté the whole spices until fragrant.
Whisk the yogurt until smooth and add it to the pan over low heat, stirring continuously.
Mix in the fennel powder, dry ginger powder, and salt.
Add the boiled lotus stem slices to the yogurt gravy and stir gently.
Simmer on low heat for 15–20 minutes to allow the flavors to blend.
Serve hot with steamed basmati rice for an authentic Kashmiri meal.