L1B to H1B in india

Hi All,

I am having L1B Visa from MNC company in india and i have tranvelled in Nov 2013 , but had to come back after 1.5 months due to Project Budget Problem . I am having Valid L1B and I-94 till 2016 and also having SSN.

Now, there is no more trips from my current company due to Budget problem.

Is it possible to transfer my L1B --> H1B from India. To do so, do i need to inform current employer.

Or
Do i need to search for new Sponsor for applying H1B for next year new Slot (2015).

Please let me know your views

You would need to search for a new Sponsor for applying H1B for next year new Slot (2015).