Ensure all your ingredients are at room temperature. Grease and line a 7 or 8 inch cake pan. Line a parchment paper. Set aside.
Preheat the oven to 350F / 180C for at least 15 mins. If using a pressure cooker to bake, please check the notes.
Place a sieve over a large mixing bowl. Fluff up the flour in the jar and spoon it to the measuring cups and level with a straight edged knife.
Add flour, baking powder, baking soda and salt to the sieve.
Mix them all with a spoon and sieve the ingredients to the bowl. Repeat the sieve twice more.
Add sugar to the bowl and mix it well. Make a well (space) in the center of the bowl. (check step by step pictures)
Pour the condensed milk, water, melted butter, vanilla extract and vinegar.
Mix them gently just until well combined. The cake batter has to be smooth and lump free. Do not over mix.
Transfer the batter to the greased cake pan. Gently knock it against the kitchen counter a few times to release any air bubbles.
Place the cake tray in the center rack inside the oven. Bake for 23 to 25 mins or until a tester inserted comes out clean. Mine was done at 25 mins. But the timing may vary slightly depending on your oven.
When the cake is done, a skewer or a tester inserted comes out clean. If you find the cake still moist bake for a little longer.
If baking in a cooker, open the lid of the hot cooker. Place the cake tray with the help of a Indian tong or pakkad. The cooker must be hot at this time. Cover the lid. Regulate the flame to low heat. Bake for 45 to 55 mins.
Transfer the cake pan to a cooling rack and let cool for 15 mins. This is important else your cake will sweat.
Invert the cake pan over the wired rack. Cool this completely before frosting or slicing.
Chop the chocolate and add it to a bowl.
Melt this in a microwave stirring at 30 mins interval until it melts. Or You can also melt it in a double boiler method by placing it in a bowl of hot water.
Keep stirring until it melts & turns smooth.
Pour this over the cooled no egg cake and spread with a spatula.
Beat soft butter until smooth for about 3 minutes on a medium speed, using a hand mixer or a stand mixer.
Sieve the powdered sugar. Add half a cup at one time.
Continue to mix it on a low speed. Then on a medium speed until well incorporated.
Then continue to add in more sugar and then mix on low to medium speed.
Add in vanilla and milk as needed. Mix until it turns smooth & fluffy.
If the frosting is too thick to spread just add in a tsp of milk and mix on a low speed.
If frosting is a bit runny, you can try refrigerating it for 1 hour. You can also add in more powdered sugar.
Add a couple of tbsps of frosting to the center of the cake. Spread it well with a spatula. If making a layer cake, then place another cake over it.
Add half of the frosting and begin to spread it from the center and then cover the sides. Refrigerate this for about 45 mins.
Add the left over frosting retaining about half cup in the bowl. Spread this to finish off. Use the left over frosting as needed to smoothen.
Refrigerate this further for about 20 to 30 mins. Smoothen the frosting with a dough cutter or scraper. Use sprinklers as desired.
Slice the no egg vanilla cake and serve.