Cut the meat into rough 4cm chunks. Season well with salt and freshly ground black pepper.
Heat the oil on a high heat in a large casserole dish and add the steakto brown nicely all over.Put the onions into the pan and cook with the beef for 5 mins until softened, then add the crushed garlic and cook for a further minute, stirring regularly.
Sprinkle both paprikas over the meat and crumble the beef stock cube on top.Now, add the water, tomatoes, tomato purée and bay leaves and season with salt and pepper, stir well and bring to a simmer. Then, cover with a tightly fitting lid and transfer the dish to the oven and cook for 1½ hrs.
While the beef is cooking, cut up the peppers in chunks, approx 3cm (discarding teh core and seeds).Once the beef has cooked for 1½ hrs, remove the dish from the oven and stir in the peppers, then put the lid back on and place back in the oven for another hour or until the beef is lovely and tender.