In a large saucepan, boil water, 1/3 cup corn meal, soy flour to make a thick porridge. Add baking powder and chili powder. Cook for 10 minutes over a low heat, stirring constantly.
Remove the pan and set aside to cool for 10 minutes. Mix in the remaining corn meal and combine thoroughly. Add water to produce a stiff dough.
Pour enough oil into a pan or wok to give a depth of around 2 inches and heat up. While it is warming form the dough into balls about 1 inch in diameter. With the oil sizzling hot, slide 4 or 5 balls carefully into the pan and cook for 2-3 minutes until they are golden brown.