Applying B1 visa with valid H1b petition

[greatworker]

I am having a valid H1b petition with a US desi consultant(Don't have the H1b visa yet).I am presently in India and planning to change my company .The new company will be sending me to US in B1 Visa.

a)Should i inform my new company that i have a valid H1b Petition?
b)Will my B1 visa get rejected since i have a valid H1b petition?