H1B petition Transfer(NO VALID VISA)

I have my H1B petiotin cleared for year 2012-2013. Now, the situation is like my client is planning to absorbe me in their company in india with the proper approval from my present company. Is there any possibility that my current approved petiotion (NO VISA STEMPING) on the name of my present company can be transfered to my new company? As both are agree to do so.

Please suggest as soon as possible.

You should go from Contract to Hire in this case. If you have atleast 2 pay stumbs from your current employer it will be easy to convert H1 from one employer to another.

Ram, I dont have H1B stamping till today. i just want to tranfer my valid petition. Do you have any idea about it?