Preheat the oven at 200 deg C.
In microwave safe glass bowl add the chocolate chips and butter , microwave it for 30 seconds intervals
With each heating interval, stir the chocolate to see if chocolate has melted. It will take about one minute.
Continue whisking the chocolate and butter mix until smooth. Keep it aside to cool.
When the mix is slightly cooled add the sugar and vanilla essence and mix until the sugar is completely dissolved and by now the chocolate mix must have completely cooled.
Whisking continuously, gradually add few tbsp of beaten egg in the chocolate mix.
Make sure after every addition of beaten egg it is completely incorporated in the mix.
Chocolate mixture should look smooth.
Sieve the flour in the chocolate mix and stir until it is completely mixed.
GENEROUSLY grease and dust 2 ramekin bowls and divide the mixture in both the bowls (3/4 full)
Bake for 10 minutes, after 10 minutes the cake will be cooked but center will be soft to touch.
Remove from oven let them rest for a minute.
To serve take a plate and invert the the ramekin bowl over it and give gentle shake.
Dust the cake with icing sugar and serve with the scoop of your favorite vanilla ice cream.
Serve the molten lava cake warm.