Preheat oven to 180°C. To make the sauce, heat three tablespoons of butter in a saucepan; add flour and sauté over medium heat for two minutes, or till fragrant.
Add milk gradually, stirring continuously with a wire whisk, so that no lumps are formed. Cook over medium heat till thick and smooth. Add salt and chilli flakes. Add grated paneer to the sauce along with the corn and green peas and stir gently.
Transfer the mixture to an ovenproof dish. Sprinkle breadcrumbs, cheese and dried oregano over the vegetables. Drizzle with one tablespoon of melted butter and bake for twenty minutes or till the cheese melts.
Serve hot with toasted bread.