Rinse the basmati rice in cold water until the water runs clear. Cover with water and let it soak for 20 minutes. Drain thoroughly.

Heat the ghee in a heavy-bottomed pot over medium heat. Add the cinnamon stick, green cardamom pods, cloves, and bay leaf. Sauté for about 30 seconds until fragrant.

Add the drained basmati rice and green peas to the pot. Stir gently for 1 minute to coat the rice grains in ghee without breaking them.

Pour in the water and add the salt. Stir once, bring the liquid to a rolling boil over medium-high heat, then immediately reduce the heat to the lowest setting.

Cover the pot with a tight-fitting lid and let it simmer undisturbed for 12 to 15 minutes, or until the water is completely absorbed and the rice is tender.

Turn off the heat and leave the pot covered for 10 minutes. Remove the lid and gently fluff the rice with a fork before serving.