Thanks for the reply!!.Thats indeed a good news.
I have few more queries:-
1- If I have to shift to tier 2 general visa do I have to go back to my home country ( India ) and apply from there or can I apply from within the UK?
2- Also as you said that I would be eligible for applying for an ILR after 16/11/2014 but my curent visa expires on 26/11/2014.So would there be any problems/concerns around this? I want to know the details.
3- My wife is currently dependent on me and is on tier 2 ICT Long term staff partner visa.She came to UK on 18/11/2012.If i have to switch to tier 2 general visa can she also apply for a dependent visa along with me within the UK itself.