Deseed bell pepper and dice it into cubes. Coarsely chop green chillies.
Heat oil in a saucepan over medium heat. Saute onions and garlic till light brown. Add corn kernels, bell pepper, green chillies, vegetable stock and milk. Bring it to boil and reduce heat. Allow it to simmer for 15-20 minutes. Add red chilli powder, black pepper powder and salt. Mix them. Remove from heat and stir in cream.