H1 B visa Question

[mekd]

I am in US on L1 B via company A and my L1 B visa and I 94 expire in July 2012.

I have applied for H1 B visa via company B in May 2012 and my existing L1 B visa expires in July 2012.
If I go back to my home country (India) and I am not in US after July 2012 while my H1 B visa is in under process.it will impact my visa process and my H1 visa get canceled if I am not in US?

[shervin143]

It will not have any impact. The H1B petition will get approved for consular process. Once the petition gets approved, you can attend the visa interview (Within 90 days of the petition effective date). Make sure you don't stay in U.S after your I-94 expiry date without a valid L1 extension in place.