Pat short ribs and bone marrow dry with paper towels. Drizzle 1 tablespoon canola oil on top; season with salt and pepper.
Preheat a Dutch oven over medium-high heat. Cook short ribs and bone marrow in batches until browned, 3 to 4 minutes per side. Transfer to a large plate, reserving melted beef fat in the Dutch oven.
Heat 1/4 canola oil in the Dutch oven over medium heat. Add onion; cook and stir until softened, about 5 minutes. Stir in tomato paste and ginger garlic paste; cook for 2 minutes. Stir in curry powder and paprika; cook for 2 minutes.
Reduce heat to medium. Add flour to the onion mixture, stirring constantly. Pour in beef stock, stirring to break up any clumps that form. Add allspice berries and bay leaves. Return ribs and bone marrow to the Dutch oven, ensuring they are immersed in the stock. Bring to a boil; sprinkle garam masala over the top. Cover Dutch oven tightly.
Bake in the preheated oven until meat falls off the bone when pulled with a fork, 3 1/2 to 4 hours. Garnish with lime wedges, cilantro, serrano peppers, and ginger.