Grate 1 onion and chop the other finely.
Marinate the prawns with some turmeric and salt. Stir-fry with a little oil until tender; keep aside.
In the same pan, add some more oil and once the oil is hot, add the whole spices – bay leaves, cinnamon stick, cardamom pods, and cloves.
Add the chopped onions now and sauté until they turn pink. Add the grated onions along with the grated ginger-garlic. Stir well and let these cook on medium heat for a few more minutes but do not let them brown.
At this stage, add the curd and cornflour mix* to the onions. Mix well and cook for a couple of minutes. Once the oil separates, add the coconut milk. Stir well.
When the milk starts bubbling, lower the heat and add salt and sugar to taste, a little turmeric, garam masala powder, the prawns, raisins, and slit green chillies.
Simmer for a couple of minutes and pour a spoonful of ghee. Turn off the heat. The malai prawns are ready!
Refrigerate leftovers
* Mixing cornflour with curd prevents it from curdling when it's added to hot masala.