Heat the oil in a pressure cooker. Fry the cashews in the hot oil until golden brown; remove from oil and set aside. Cook the red chile peppers, cumin seed, mustard seed, peppercorns, and asafoetida in the hot oil for 2 minutes. Stir the lentils into the mixture and cook another 2 minutes. Add the rice, 1/2 cup coconut, green chile peppers, turmeric, salt, and water; stir.
Close the lid of the pressure cooker and bring to 15 pounds of pressure; cook about 35 minutes. Relieve the pressure from the cooker; stir the cashews and ghee into the mixture. Garnish with the cilantro and 1/4 cup shredded coconut to serve.