L1 to H1 Status

[tchitrait]

Hi,

I am working for a company A in L1-B status and I am planning to apply for H1-B in April 2011 for Company B in Premium Mode. If we apply H1 in premium mode, we will come to know the status in 15 days.
Eg: I am applying H1-B in April 1 2011 and it got approved on April 15 2011. I can work for Company B from October 2011. I heard that if the H1 got approved then the L1-B status will be overridden by the H1-B but I should work from October 2011. If I continue working on Company A with L1-B will it be a problem. Kindly let me know I am bit confused.

[kabkaba]

Your status will change on Oct 1. Until then you must work for L1 company in order to maintain L1 status or leave the US.