Combine milk, condensed milk, sugar and jaggery. Bring it to boil and reduce heat to medium.
Keep simmering until the milk gets thickened. This might take close to 30 minutes.
In the mean time, tava roast the bread slices with ghee on both sides. Take care not to burn.
Reserve a table spoon of ghee and use the rest to fry the almonds, raisins and cashews.
Add cardomon to the milk mixture and let it cool.
Layer the bread at the bottom of a flat pan. Pour some milk to immerse it completely.
Repeat the process until all the bread and milk are used up.
Garnish with the roasted almonds mixture.
Cool in refrigerator for atleast 30 minutes before serving.