Here's what I think it should be:
They're in their apartment: Jerry's girlfriend dumps him for Newman (who calls him by his first name), Elaine gets fired from the J. Peterman catelog, George's parents die arguing in the hospital (so he has to pay two hospital bills and two funerals), and Kramer loses all his lottery money gambling in Atlantic City. They all decide to split a cab to go to Monk's. As they get into the cab, the cab driver turns around and reveals none other than Babu Bhatt, he grins, Jerry and the others look at him, stunned, and the scene fades.