Preheat the oven to 160 degrees. Grease and line a 24 cm spring-foam pan.
Melt the chocolate over a pan of boiling water. Cool completely. In a bowl, sieve the flour, baking powder, baking soda and cocoa powder. Set aside.
In another bowl, beat the softened butter and sugar till fluffy and creamy.
Break in one egg at a time, beating after each addition.
Add the dry ingredients in three additions, beating after each addition. Finally add in the milk, melted chocolate and vanilla essence and give it a final mixing.
Pour into the prepared pan, tap to flatten the top. Bake for 45 to 50 minutes, till the tester comes out clean. Cool in the pan for 10 minutes and then cool on a rack.
To prepare ganache, combine all ingredients and melt on a hot water bath till you get a smooth glossy mixture. Allow to cool before spreading it on the top of the cake and sprinkle some sugar sprinkles for making it look colorful, just like I did!!! :)