In a large pot or Dutch oven, heat the melted coconut oil and 2 tablespoons of unsalted butter over medium heat. Once melted, add the finely diced red onion and sauté for about 5 minutes, or until the onions are translucent.
Next, stir in the sliced carrots, diced red pepper, diced baby gold potatoes, and chopped cauliflower. Cook for another 8-10 minutes, stirring occasionally, until the vegetables start to soften.
Add the minced garlic, minced ginger, ground turmeric, ground coriander, paprika, garam masala, ground cumin, ground cardamom, and cayenne pepper (if using). Mix well to coat the vegetables in the spices and let them cook for an additional 2 minutes, allowing the spices to release their aromas.
Stir in the tomato paste and crushed tomatoes, followed by the vegetable broth. Add the teaspoon of sugar, salt, and pepper to taste. Bring the mixture to a gentle boil, then reduce the heat to low and let it simmer for about 20 minutes, or until the vegetables are tender and the flavors meld together.
Once the vegetables are cooked, stir in the heavy cream and frozen sweet peas. Let the Vegetable Masala simmer for an additional 5 minutes, allowing the cream to blend in and the peas to heat through.
Remove from heat and stir in the chopped cilantro or parsley. Serve the Vegetable Masala warm in a serving dish, and enjoy with rice, naan, or your favorite flatbread.