1. Heat olive oil in a pot, slice the onions into rings, and sauté over medium heat until translucent.
2. Add honey, red wine, balsamic vinegar, and bay leaves. Simmer over low heat for 10 minutes.
3. Season with salt and pepper. Stir well.
4. Pour the hot chutney into sterilized glass jars. For unopened jars, it lasts up to 6 months. If opened, refrigerate and consume within 3–5 weeks.