I'm already a student in US (Enrolled for PhD). However, I wish to wind up with MS, and move on to MBA. Now, the TOEFL score (107 - iBT) has expired (more than 2 years). Do I need to take TOEFL again? I know if I hold a degree from US university I don't need TOEFL. But, assuming the worst case scenario of my current univ declining to convert my enrollment to MS, I would stand with no credentials. Please advise.
Yes, since the TOEFL score has expired you need to take the test again. However, since you have been studying/working in the US you may want to apply for a TOEFL waiver. This is totally at the discretion of the b-school but I hope that reasonable schools will understand your situation and grant you a waiver.