L1 eligibility - for contract employment fulfilling all other details

Hi, I was with an US subsidiary in Indiaas as the MD for 3 yrs during 2006 to 2009. Again reemployed on contract since Jan 2012.My employer wants to apply for L1? Since the current engagement is on Contract, am I eligible. What would employment really mean - getting paid as a salary or as compensation for services rendered. The services do include all that is required - like decision making, hire and fire, etc.How long would it take to know result of L1, Can I still apply for H1B?

How do you rate current chances for L1 and H1B?

Best regards


I believe this has been answered in your follow-up questions.