Grease the tin and line with butter paper. Dust with maida and arrange the pineapple slices at the base of the tin. Place cherries in the pineapple cavities. Melt and caramelize the sugar until golden, then pour the caramel into the empty spaces between the pineapple slices. Keep aside.

Measure all the ingredients carefully. Sift maida, baking powder and baking soda together. Beat butter for 2–3 minutes, then add powdered sugar and beat for 2 minutes. Add condensed milk in batches and beat until uniform. Add essence and colour and beat for 1 minute. Gradually add the dry ingredients to the wet mixture and fold with a spatula. Transfer the batter to the prepared tin.

Pre-heat Air Fryer for 5 minutes. Place the tin in the fry basket and close it properly. Keep Air Fryer at 140°C for 25–30 minutes. Check with a skewer; if it comes out clean, cool the cake for a few minutes. Remove from the tin, cut into slices and serve.