Heat a medium sized pan, dry roast the fenugreek seeds, mustard seeds and red chilies for 10-15 seconds. Keep this aside to cool.
Cut carrots into small pieces. Heat a small pan; add a table spoon of oil. Once the oil is heated up, add the carrot pieces. Fry for a few minutes and let it cook, by covering with a lid, until it becomes just soft. Ensure that it does not get overcooked.
Add turmeric to the carrot pieces, mix and put off the flame. Let it cool. Blend the carrot pieces, chillies and the spices (from Step 1) to a coarse consistency. Transfer this to a serving bowl.
Squeeze the juice of one lemon in the chutney, mix well. If required add more lemon juice.
Savour this chutney with hot rice and a dab of oil.