Converting Special Character in Unix Shell Script

#!/bin/ksh
##########################################################################
#
# Parameters
# 1 = Batch file name
##########################################################################
PROGRAM_NAME=`basename $0`
echo $PROGRAM_NAME "has started"
echo " "
########################################
# Concurrent Program parameters #
########################################
#total_args=`echo $*|awk '{print NF}'`

##############
# File Name  #
##############
BATCH_FILE=`echo $*|awk '{print $9}' | sed 's/"//g'`
BATCH_FILE=`eval "echo $BATCH_FILE"`
echo "Batch file = " ${BATCH_FILE}
###################
#  Data Directory #
###################
DATA_DIR=`echo $*|awk '{print $10}' | sed 's/"//g'`
DATA_DIR=`eval "echo $DATA_DIR"`
echo "Data Dir = " ${DATA_DIR}
############################
# Environmental variables. #
############################
START_TIME=`date +%d-%b-%Y" "%H:%M`
HOST_NAME=`uname -n`
TSTAMP=`date '+%Y%m%d%H%M%S'`

EXIT_STATUS='SUCCESS'
BATCH_SOURCE=`echo ${DATA_DIR}/${BATCH_FILE}`

#################################################
# Converting the file                           #
#################################################

cat ${BATCH_SOURCE}|sed "s/$(printf "\243")//g">${BATCH_SOURCE}.new
mv ${BATCH_SOURCE}.new ${BATCH_SOURCE}
cat ${BATCH_SOURCE}|sed '/^\:61\:/s/  *//'>${BATCH_SOURCE}.new
mv ${BATCH_SOURCE}.new ${BATCH_SOURCE}

###############
## Final exit #
###############
    EXIT_STATUS='SUCCESS'
    echo "SEAS_CE_sh Status :" $EXIT_STATUS
    END_TIME=`date +%d-%b-%Y" "%H:%M`
    echo "Program Completed .... "  $END_TIME
    echo "Moved ${BATCH_SOURCE}.new to ${BATCH_SOURCE}"

    exit 0
fi
#