1. Sprinkle lamb with salt and pepper.

2. Heat oil in heavy, large pot over medium-high heat.

3. Working in batches, add lamb to pot and cook until brown on all sides, about 8 minutes.

4. Transfer to bowl.

5. Remove all but about 2 tablespoons of oil from pan.

6. Add onions, carrots, and garlic to pot and saute till golden, about 10 minute.

7. Stir in all remaining ingredients.

8. Return lamb to pot, pressing down to submerge.

9. Bring liquid to boil, reduce heat to medium low, and cover.

10. Simmer until meat is tender, about 2 hours.

11. Uncover pot; simmer till meat is very tender, about 30 minutes.

12. (Can be made 1 day ahead. Chill until cold, cover, and keep chilled. Rewarm over medium heat before continuing.) Transfer lamb to platter; tent with foil.

13. Boil juices in pot till thickened, about 15 minutes.

14. Season with salt and pepper and spoon over lamb.