Preheat oven to 160°C.

Apply butter evenly in the pan and dust with maida. Tap and remove excess flour and set it aside.

Beat butter until fluffy.

Add sugar and beat until incorporated.

Add condensed milk and vanilla essence.

Now in another bowl, mix together maida, baking powder and baking soda.

Add 1/3rd of milk to the butter mix and beat.

Add half of the dry mix and beat to combine.

Repeat milk, flour and milk and combine until 90% mixed.

Do the final mixing with a silicon spatula until the batter is nice and smooth.

Pour the batter into the prepared pan and bake in preheated oven for 45 minutes.

Remove from oven, check with a cake tester and let it sit for ten minutes.

Place a wire rack on top of the pan, flip it and gently remove the pan.

Allow the cake to cool completely.

Mix together icing sugar, vanilla and melted butter.

Add milk little by little until it reaches spreading consistency.

Pour the glace on top of the cake and let it set for a while.

Slice and serve.