Preheat oven to 175 C / 350 F
In a bowl, Sieve together both the flours, baking soda, baking powder and salt twice over
In another bowl, mix together condensed milk, olive oil, butter and essence (if using)
Add 1/4 cup of the sieved flour mixture and 1/4 cup Aerated water. Whisk well (or if using an electric beater, whisk till the aerated water is absorbed).
Repeat this process till the flour mixture and soda water get exhausted.
Pour immediately over the pineapples.
Bake for 35-40 mins till done (Mine was done at 33rd min itself).
Once done, wait for 3-4 mins and invert onto a serving plate (Don't wait for too long as the syrup hardens and it would make it hard for the cake to be inverted without breaking)
Serve warm or at room temperature as it is. Or to make it even richer, serve it with whipped cream or Vanilla Ice Cream