IMPORTANT : H1 Withdrawal related query

I am currently on L1 visa with my current company. I tried for a job change and the offering company has applied for my H1 recently. Some how, now I am not willing to join the new company and I want to continue with my current company.

 

Questions:

1) If my H1B is approved, will I loose the eligibility to work on my current L1B visa ?

2) Can I go ahead and ask my offering (new) company to withdraw my H1b Filing, as still my H1B is not approved. If yes, will they allow me do do so ?

3) If I will ask my offering (new) company to withdraw my H1B Filing, do I need to pay any amount to them as compensation?

pls reply ASAP. Thanks.
1. You need to find out if your H-1 was applied w/ COS or not. If it was applied w/ COS and same gets approved, then you will have to start working on H-1 from COS approval date (typically Oct 1). If not, then you can continue working on L-1

2. Yes, you can ask them to withdraw the petition. As the filing fees is not returned in case of withdrawal, you will have to figure out how the companies reacts to the financial h i t.

3. Legally, companies are required to pay for the H-1 filing fees. They cannot demand those fees from you, but they can ask for attorney fees.

 

Another option is to let the H-1 get processed. If it gets denied, you don't need to worry. If it gets approved, then you can travel outside of US and return on stamped L-1 visa after Oct 1 to continue on L-1 visa. Your H-1 will become kind of dormant and you can go to H-1 in future.