Puree the peaches and heat it in a saucepan with 1/4 th cup sugar. Do not throw away the water from the tin. If the peach+ sugar mixture gets very thick while cooking, little syrup from the tin can be added. Cook till it forms a little chutney like consistency. Cool it.
Add the cardamom powder and give it a mix. Cool it . Then add the peach mixture into the milk mix and chill it.
Now heat the milk and rest of the sugar together on a low flame till it is almost half the quantity and thick.
For the pan seared peaches, jeat a non stick pan with little butter and then put the peaches in.
Roast on both the sides and then put the sugar in to caramelise it. Brown it a bit on both sides and remove it.
To assemble it, put the caramelised peach halves in serving bowls, pour the peach Rabdi and garnish with chopped pistachios.