Can I use the unused expired h1b petition

Question

My h1b was approved but never used it for 7 years. Now  I am in USA with L1 visa and then went to India for a couple of months.
Next, I came back to USA on h4 visa.

Will i be able to use my h1b visa or will i be CAP exempt?
Should I wait until April 2014 to apply new H1b?

Answer 1

You need to wait until April 2014. You are not cap exempt

Answer 2

"The H1B Cap exemption also applies to workers who are currently outside the US, as long as they held an H1B visa status during the past six years, have not exhausted the full six years, and have not spent a full year outside the US" http://www.visapro.com/Immigration-Articles/?a=1090&z=48

Unfortunately since it has been 7 years, you are no longer exempt.....