Heat mustard oil until it begins to smoke slightly, then reduce the heat.
Add whole spices (cardamoms, cloves, cinnamon, and bay leaves) and sauté for 30 seconds.
Add the lamb pieces and brown them on all sides.
Lower the heat and whisk in the yogurt gradually to prevent curdling.
Mix in Kashmiri chili powder, turmeric, fennel powder, dry ginger powder, cumin powder, and salt.
Stir well until the spices coat the meat evenly.
Add water, cover, and cook on low heat for 60–90 minutes until the meat becomes tender.
Adjust seasoning if needed and simmer for another 5–10 minutes.
Garnish with fresh coriander and serve hot with steamed basmati rice, naan, or Kashmiri bread.