If using store bought paneer, immerse it in hot water for 10 to 15 minutes till it softens. Then crumble it well using your fingers. If using homemade paneer or chenna, no need to keep in hot water; simply knead with your palm and crumble it.
Take the crumbled paneer in a mixie jar. To this, add condensed milk, boiled milk, saffron threads and cardamom seeds. Grind it to a smooth, lump-free paste. Check for sweetness and add more condensed milk or sugar if desired.
In a wide non-stick kadai or pan, take the ground paneer paste and add 1 teaspoon of ghee. Turn on the heat to medium.
Stir continuously at regular intervals. Keep cooking on medium flame until the mixture thickens and forms a soft, non-sticky mass that leaves the sides of the pan.
Transfer the mixture to a ghee-greased plate and let it cool until warm to touch. Knead the dough gently to make a smooth mass. Pinch small portions and roll them into smooth, round balls.
Arrange the ladoos in paper muffin cups or cupcake liners. Decorate each ladoo with a dot of food color (orange or saffron dissolved in drops of water) and garnish with sliced pistachios. Serve and enjoy!