Spray slow cooker with non-stick spray. Add all ingredients except for paneer, butter, cream and yogurt to slow cooker.
Let simmer in the slow cooker on LOW for 4 hours, stirring every 1-2 hours (to prevent burning).
Remove the bay leaf.
Add butter, cream and yogurt and stir to combine well.
Add paneer and let heat through for about 30 minutes.
Stir carefully as paneer will fall apart easily.
Serve with rice and naan or as desired.