*Bhan* is a word for SISTER and *Chod* means to fuck. So the combined word *bhan chod* means a sister fucker. The word can be used on occasions when somebody is in a state of anger, hurry etc etc. Said directly to someone is implied as showing incredible hate to the particular person and the threat of giving him an ass kicking like one he's never had before.
Go fuck your sister, bhan chod!
Bhan chod i hate that guy so much.
Bhan chod, im gonna kill you!!