Pressure cook the peas, potato, cauliflower, beans and carrot along with water, till soft. Drain any left over water. Lightly mash the cooked vegetables and set aside.
Heat butter / oil in a pan. Add the finely chopped onion and chopped green chilli. Saute them till they become translucent.
Now add the ginger garlic paste and fry till the raw smell disappears.
Add the chopped tomatoes and cook until soft and mushy.
Add the chopped capsicum, turmeric, pav bhaji masala, chilli powder and garam masala. Fry for 2 minutes.
Add water, salt and cooked vegetables to it and mix well. Let it simmer for 6 – 7 minutes. Add little more water if it is too thick.
Now add the paneer and let it cook for a couple of minutes.
Turn off the flame and add the lemon juice and coriander leaves. Mix well.
Slice the pav horizontally into two and lightly toast them with butter.
Serve the cooked vegetable mixture hot with toasted pav accompanied with chopped onion and lemon wedges.