Thanks JohnThomas for your reply.
I am going to apply for my L1-B Extention by december 2008 since my L1-B Visa is going to expire on 25th July 2009.
As per my company policy since i entered USA on 12th July 2008 i can apply for GC on 12th July 2009.
Here's my questions:
1. My L1-B Visa was stamped on 1st August 2006 and given the validity upto 25th Jun 2009. But i entered USA on 12th July 2008 only. So if i apply for L1-B extention, how many more years i will get to work here? i.e upto 2011 or 2013? {i know that a person can stay in US on L1-B visa for upto a max of 5 years}
2. I am also planning for applying for my H1-B through another employer by Apr, 2009. If i filled my L1-B extention petition through my current employer [since it is expiring by June 2009] and also the H1-B new petition through another employer, will it affect any one of the Visa's?