Can I join first company after the visa is transferred?

I am in india and have a stamped H1B visa from a consultancy valid from 2013 till 2015 (have not travelled to US yet) and now I’m planning to transfer it to my present company, suppose my present company transfer it in premium processing and it gets approved and If in case I want to join the consulting company on H1 visa and not my present company… is it possible ? or once the transfer is done I cannot work for the consulting company ?

After Transfer U cant work with petition of previous company, as it would withdraw the petition AFAIK

Only if the previous employer has withdrawn the petition, you can NOT work for them. Otherwise you can continue to work for the old employer.