H1b transfer and extension pending and I94 about to expire

USA H1B Visa
1

Hi

I changed employer A to B and employer B filed transfer & amendment on July 24,2017. We are waiting for results.

My I94 getting expired on April 4,2018.

I have few questions

  1. If transfer/ extension rejected , can employer B file transfer again or I need to go back to India?

  2. If decision is pending and I94 expire, can I stay as per 240 rule?( 240 rule applies to transfer case also ?)