Heat the oil in a pan , add mustard and cumin seeds and let them crackle .
Add the green chillies, red chilly pieces and the peanuts , fry on medium level for about 2-3 minutes.
Drop in the curry leaves, asafoetida (Hing) and the turmeric powder and fry briefly.
Stir in the beaten rice and toss till it is well coated with the oil and spices. Sprinkle salt and sugar to taste and toss to mix on high level till well heated through.
Remove from heat , let it cool and store in an airtight jar.