Filed H1B extension and now want to filed H1B transfer

I am on H1B visa, and my visa is valid up till 10/13/2013. Currently i am working for Wipro. My company had filed my H1B extension last month in normal processing, so it will take 3 - 4 months of processing time. And now i have got an opportunity with company TCS, and my H1B needs to be transferred to TCS, so they are doing my H1B transfer in Premium processing. So my question here is whether its possible that my H1B transfer petition (with TCS) will get processed in 2 weeks, or it will go in queue, because already there is one H1B extension petition by Wipro is pending.

It will be processed in 15 calendar days and will reach decision or RFE within that time. As the transfer was filed prior to your current I-94 expiration date, it will not be impacted by your pending H-1 extension.

Hi sourabh, I am in same situation. My H1b visa expired 10 days ago current employer submitted h1b extension 20 days ago. And I94 expired yesterday. My new employer filed H1 transfer today in premium just a day after I94 expired and now the status shows file was received and receipt notice emailed… Could you please suggest me what should be the consequences whether there would be a problem if I join my new employer in case my H1 transfer approved in 2 weeks?