L1 to H1 Transfer - Need Urgent Help

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I am working on L1 and applied for change of status to H1 trough another employer for some project. I got my H1 Approved with Change of status with past effective date. But now that project is not any more with my employer who applied my H1. My employer who applied H1 is asking me to continue with my previous employer on L1 till the time he gets new project for me. Is working on L1 legal in this case? If legal then how and for how long I can do that? If not legal then is there any way to revoke H1 and go back to L1?

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