1. Heat the milk in a heavy-bottomed pot.
2. Add rice (drained) and cook on low heat till the milk begins to get absorbed.
3. Remove from heat, keeping the rice a little under done.
4. Transfer the rice to a large flat dish.
5. Add the sugar and mix well gently.
6. Soak the saffron in 1/4 cup hot water for 5 minutes.
7. Heat the ghee in a heavy-bottomed pot.
8. Lightly fry the dry fruits, coconut, cinnamon sticks, green cardamom, black peppercorns, and bay leaves.
9. Add the rice and saffron water. Stir well, gently.
10. Put a flat pan / griddle under the pot and cook covered, on low heat till a pleasant aroma emanates and the rice is done.
11. Serve hot.