Cut each slice of bread into 4 triangles. Fry the bread in hot oil. Keep on paper napkins to soak extra oil. Fry nuts in the oil. Set aside for later.
Pour whole milk in a heavy bottomed pan. Boil till it reduces by half. Add condensed milk. Add saffron, sugar and cardamom powder. Simmer for 5 – 10 minutes and set aside to cool.