Place the tamarind in a small bowl and soak it in a few tablespoons of warm water for 5-10 minutes. Squeeze and extract the pulp, then discard any fibers or solids. Set aside.
Heat 1 teaspoon coconut oil in a small pan over medium heat. Add the sliced garlic and dried red chilies. Sauté until the garlic turns lightly golden and aromatic. Remove from heat and allow the mixture to cool slightly.
In a blender jar, combine roasted peanuts, roasted Bengal gram, sautéed garlic and chilies, tamarind extract, and salt.
Add a few tablespoons of water and grind to a smooth, creamy chutney. Add more water gradually until you reach your preferred consistency. The chutney should be thick yet spoonable.
Transfer the peanut chutney to a serving bowl. It can be served as is or finished with tempering.
To prepare the tempering, heat 1 teaspoon of coconut oil in a small pan over medium heat. Add mustard seeds and allow them to splutter. Add asafoetida and curry leaves. Sauté for a few seconds until fragrant.
Immediately pour the hot tempering over the prepared chutney. Serve fresh.