Bipasha says the word twice in the film and Sudipto was very sure that he didn't want the Board either deleting the word or beeping it.
Some of the other characters in the film use foul language too, but those parts have been beeped. He just didn't want Bipasha's part to get deleted because in that scene she has a fight with Maradona, whom she stars opposite.
She supports as well as opposes him in the film. The dialogue is apparently relevant in the film.