For the masala paste, dry-roast the sesame seeds, poppy seeds, peppercorns, caraway seeds, cumin seeds, cinnamon, green cardamoms, black cardamom, cloves, mace, dried coconut and Bedgi chillies separately. Cool and grind with a little water to a fine paste. Heat the oil in a pressure cooker; add the red chillies, sauté for a few seconds, remove from heat and reserve for garnishing. Add the onions to the same oil and sauté till golden brown.
Add the ginger paste and garlic paste and cook over medium heat for a few seconds. Stir in the ground paste and cook for three or four minutes over medium heat, stirring frequently. Add the chicken, mix well and cook over high heat, stirring continuously, for two or three minutes. Add half a cup of water and continue cooking over medium heat for three or four minutes, stirring frequently. Add the turmeric powder, grated nutmeg, Kolhapuri dry chutney and salt. Seal the cooker with the lid and cook till the pressure is released twice (two whistles).
Remove the lid when the pressure has reduced. The masala should be quite thick and dry. Serve hot, garnished with coriander leaves and fried chillies.