Wash the basmati rice until the water looks mostly clear. Drain and keep aside.
Heat the oil in a pressure cooker. Fry the sliced onion on low heat until golden brown and crispy. Take it out and keep aside.
In the same oil, add the bay leaves, green cardamom, black cardamom, cloves, cinnamon stick, peppercorns, and mace. Let them sizzle for a few seconds.
Add the washed rice, green peas, and salt. Mix well.
Pour in the water and stir lightly.
Close the lid and cook on medium heat for 3 whistles.
Turn off the heat. Leave the cooker closed for 10 minutes, until the pressure goes down on its own.
Open the lid and mix the rice gently.
Top with the crispy fried onion and chopped coriander.
Serve hot with raita, salad, or curry.