Hi Saurabh, I have exactly the same question. But I asked my lawyer and her answer is no. Have you seen people successfully transferred theirs? And can current company revoke the H1b? I appreciate your help very much!
I don’t know of specific instances. IMO, once your petition is approved, you are cap-exempt. The new employer can file a petition for a future start date of Oct 1 or later (your original petition will become active by that time).
If this doesn’t work, then the new employer can have all the paperwork ready and file the petition on Oct 1. You can then join the new employer on the basis of receipt notice (H-1 portability).
But again, I am no attorney and they are more expert in this area.