Preheat the oil to 350 degrees F in the fryer.
In a large stock pot or braising pot, add the olive oil. Season the shanks with salt and pepper. Season the flour with Essence. Dredge the shanks in the seasoned flour, coating each side completely. When the oil is hot, sear the shanks for 2 to 3 minutes on each side, or until very brown on all sides. Remove the shanks and set aside. Add the onions to the pan and saute for 2 minutes. Season with salt and pepper. Add the celery and carrots and continue to saute for 1 minute. Season with salt and pepper. Stir in the garlic, bay leaves, and thyme. Cook for 1 minute. Deglaze the pan with the red wine, scraping the bottom and sides to loosen the browned particles. Add the stock. Bring the liquid up to a boil and reduce to a simmer. Add the shanks and continue to cook for about 2 hours, basting the shanks often, or until the sauce is stew-like and the meat starts to fall of the bone. Season with salt and pepper if needed. Place the parsnips in the fryer and fry until golden about 1 to 2 minutes, stirring constantly to prevent the parsnips from sticking together. Remove the parsnips from the oil and drain on a paper-lined plate. Season the parsnips with salt and pepper. To serve, mound the pudding in the center of the plate. Lay a few of the shanks on top of the potatoes and spoon some of the gravy over the top. Sprinkle with parsley and garnish with the fried parsnips.
Recipe courtesy of Food Network Magazine