L1 to H1B with COS

[monu_anon]

Hi,
I am currently on L1 Blanket (Company A) and I want to apply H1B (Company B). Is it Possible to file for H1B with COS effective March 2010. If yes when will I be out of Status L1 and what do I need to do to maintain L1 status after March 2010. If I travel to India from Feb 15th to March 10th Can I enter US on L1 (I guess yes).
Also can you please let me know what if in May 2010 I again want to switch to H1 without going to India for stamping.

I need a quick help.

thanks

[itzprams]

Here is what I would have done.

1. Apply for H1B with consular processing (CP)
2. Keep working on L1 OR go on vacation and re-enter on L1.

Provided your H1B gets approved.
3. Whenever ready to work on H1 while in US, just ask H1 employer to file COS from L1-H1. Once approved you can start working on H1 without going out of US.