To completely and utterly turn a situation around to enable a quick yet shameful get away from a confrontation.
More commonly around the circles however, the term can also be used to describe complete horse vision - the inability to be sensitive to other peoples feelings and hence loose friends. A certain species of 'bitch'.
Alternatively the term has also been used as a female rating factor. When a female does not fit the attractiveness scale of 1-10, and is horribly ugly the term 'banipreet' is fitting. Also has terrible body odor.
Are you serious? She ate my saved slice of pizza I was looking forward to and then when I got angry she told me to loose weight! Fucking chucked a banipreet.
She literally stood there and banipreeted it. Stuck up bitch just gained 20 enemies from just opening her self centered mouth.
I couldn't sleep for a week after paranormal activity. But then that banipreet showed her face and I had nightmares for a month.