@StatusPidit
Consulted with an immigration lawyer today and got my queries answered. Any Companies including the current one can file a new h1b petition and the application will not be subject to a cap. Given that I have TPS I am also not out of status and can use EAD to continue working until I get my new h1b. So it's all good. Will probably speak to few more lawyers. Anyways, would love to hear more from what you know.