Drain the water from the tofu and cover the tofu with a kitchen towel or you can use a muslin cloth to cover it. Place some heavy pan on the covered tofu for at least 30 minutes so that extra water can be drained out.
Once the extra water drained out unwrapped the tofu and cut them in cubes.
Take a medium-size bowl and put tofu cubes in it. Sprinkle cornstarch,1/2 tsp salt, and red chili powder. Toss tofu cubes around the bowl so that tofu gets evenly coated with cornstarch and spices. Set bowl aside.
Heat the vegetable oil in a frying pan, once the oil gets heated place tofu cubes and shallow fry them till the tofu cubes get golden brown.
Now take another deep pan and add sesame oil in it. Let it heat on medium flame, once the oil gets hot add garlic and green chilies (ponded) dry red chilies, now add onions saute them till they get a little soft, now add bell peppers saute them for few seconds. Add tofu in this, 1/2 tsp salt, dark soya sauce, light soy sauce, red chili sauce peanuts cornstarch and mix them well.
Add sugar and spring onions, mix well. You can adjust the seasoning according to your preferences. Coof the tofu for another 2-3 minutes. Turn off the heat. Tofu is ready to serve.