Heat ghee or oil in a heavy-bottomed pot over medium heat. Add cumin seeds, cinnamon stick, cardamom pods, and bay leaves. Cook until fragrant, about 1 minute.
Add chopped onions and cook until golden brown, approximately 8-10 minutes, stirring occasionally.
Stir in minced garlic, ginger, and chopped chillies. Cook for 1-2 minutes until aromatic.
Add ground coriander, cumin, turmeric, cloves, salt, and black pepper. Stir well and cook for 30 seconds.
Add lamb chunks and brown on all sides, about 8-10 minutes total.
Mix in chopped bell pepper, tomatoes, tomato puree, and stock. Add remaining whole chillies.
Bring to a boil, then reduce heat to low. Cover and simmer for 1.5 hours or until lamb is tender, stirring occasionally.
Remove lid and cook for additional 10-15 minutes to reduce sauce if needed.
Garnish with fresh coriander and serve hot with basmati rice or naan.