Pressure cook the squid for about 10 minutes with salt, 1 tsp red chili powder, 1/4 tsp turmeric powder, 3/4 tbsp ginger garlic paste and water. You may have to adjust the cooking time based on the size and type of squid.
Heat oil in a pan and saute the onion lightly. 1 minute will do.
Now add in the remaining ginger garlic paste and saute till the raw smell goes off.
To this, add the remaining red chili powder and salt as required.
Next add the cooked squid and saute for 3-4 minutes.
Let it fry nicely.
2 minutes before putting off the flame, add the crushed fennel seeds and curry leaves, and mix well.