Heat oil in a pot over medium heat. Add cumin seeds, star anise, cinnamon stick, cardamom pods, cloves, bay leaf and sauté for about a minute.

Add onions, green chilies, red bell pepper and sauté until onions become translucent. Add ginger-garlic paste and sauté for a minute.

Add turmeric powder, garam masala, Madras curry powder, mushrooms, cilantro and stir well. Cover and cook for 2 to 3 minutes on medium heat.

Add rice, salt to taste and mix well. Add 2 cups of water, stir occasionally, cover and cook for 30 minutes on medium heat until rice is done (this step can be done either on the stove top or can be transferred to a rice cooker).

Serve by itself or with any curry dish.

It can be stored in an airtight container for 2 to 3 days in the refrigerator.