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1. I am currently working at Company A in L1B- visa, I am going to apply H1B visa through Company B in March 2013. If the H1B- Visa got approved,
what is the proper procedure to get relieved from company A and join company B ? Will there be any legal issues?
2. I am going to apply for H1B- Visa next month. My L1B- visa going to expire in April 2013. Can I go to India while H1B -visa in process and get H1B-visa from India?
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You will have to check w/ employer about their policies around notice period. If the H-1 gets approved w/ COS, then you have to work on H-1 from COS approval date. So you will have to manage the notice period accordingly. Note that some employers may want you to return to home country and resign from there.
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Yes, this is possible. As your I-94 is expiring in April, COS from L-1 to H-1 will not get approved until you get L-1 extended. So you can have H-1 filed w/ consular processing, leave US at the end of L-1 term and return after getting H-1 visa stamped.