L1 (7th years), have I-140 approval on EB3 case, am I overstaying? Can I get another extension on basis of 140 approval?

[sonukunal]

Need an expert advise. I came in US in 2005 on L1. in 2007 my company filed my GC in EB3 category for which i-140 got approved with priority date as December 2007. In 2009 when I was in 5th year of my stay in US, my company filed another extension of my L1 (typically company files a H1 if you have consumed 5 years on L1 but in my case they have filed L1-extension) and USCIS granted me L1 visa for another 3 years till May 2012 (not sure if by mistake or they can give L1 beyond 5 years if you have i-140 approval). Now when my L1 visa is expiring and I requested for extension,my company is saying that I shouldn't have stayed here on L1 beyond 5 years and I have to go back. I am getting different opinions on my case and I am so confused now on what to do next in order to stay here. I need some experts advise on my following queries:

1) If I have a valid L1 Visa stamped on my passport and a valid i-94 (both expiring May 2012); was it a case of overstaying as I am in my 7th year of stay in US considering I have an approved i-140?

2) Can my company again file L1 extension beyond already consumed 7 years on basis of i-140 approval?

3) If answer is No to above question, what is best option left in my case in order to continue my stay in US?

4) Can my company file H1 in upcoming April CAP or should I go back to India to stay outside US for one year to reset my clock?

5) My wife is working on L2 EAD. If I have to go back, can she continue her work on B1 for another 3 months as she has one from her previous company?

I will really appreciate any inputs in my case. Thanks for all your help.

[Attorney_23]

A foreign national may ordinarily remain in the U.S. for a maximum of 5 years in L1B status, or 7 years in L1A status. A person may not ordinarily remain in the U.S. in L1 status for time beyond the 5/7 year max based upon a pending green card application. It sounds as if you may be confusing this with the special rule permitting H1B employees to remain past the 6 year max.

Also, please note that a person in B1 status can generally not perform work in the U.S.

I would recommend you consult with an experienced immigration attorney. The attorney would need to review your documents and determine how best to proceed.