I140 approved and H1B Denial

[RamKakarla]

Hi 

I work as permanent employee for an US based Manufacturing Company.  My I140 got approved on DEC 2017 and priority Date is May 2017. My company has applied by H1B extension (this is my first extension after 6 years of H1B). if My H1B extension is rejected then i would be layoff from the company and My 140 will also revoked. if this happens i need to go back to India

After 2 years if i want to come back to US then can my new employer apply the H1B based on my old I140 (Exempt form H1B CAP)  and my Priority date can be still valid and can be used for new Company GC process.

Thanks in Advance