Take condensed milk and oil and beat it well.
Add caster sugar in a bowl and beat it well with beater until it gets light in color.
Add Vanilla essence and mix it well.
In another bowl, mix all the dry ingredients ( flour, baking powder, and soda ) and mix well.
Transfer this dry mixture to the prior mixture of condensed milk.
Mix altogether with "Cut&Fold" method.
Preheat the oven on 180 degree for 12-15 minutes.
Transfer the cake batter to the cake mold. And tap it well to make the upper surface smooth.
Put this cake mold into the preheated oven for 20 minutes @ 180 degree.
After 20 minutes, take that out and let it come to the room temperature.
Remove the cake from the cake mold.
Sprinkle caster sugar on the prepared cake and garnish it with two cherries.
Cake is READY !!!