Heat oil in a large skillet over medium-high heat. Stir in the cashews; cook and stir until fragrant, about 1 minute. Stir in chiles and onion; cook and stir until onion is translucent, about 5 minutes. Do not allow onion to brown.
Stir corn and paneer into onion mixture; season with salt and sugar. Continue to cook and stir until hot, approximately 3 additional minutes. Before serving, stir in cilantro.