Can any one tell me How to over come latest penguin 2.0 update
The number one solution to overcome this is to keep a unique and high quality content and keep it updated with that. Anything with low quality content that is spammy and full of duplicates will not shield you from being hit by the penguin 2.0 update. So, stop adopting black hat seo techniques and make sure to always wear the white hat.
For that you have to walk through the google algorithm. Content is the main on factor, if you have the content but not unique and informative then you will get panelized for it.
Disavow Poor quality links
Reduce you exact anchor text ratio
Focus on quality content and make sure it is well written without any grammar mistakes.
Were you hit by it? if not then no need to worry - keep up the good work. If you were targeted - then share with us your SEO strategy (specifically link building) and then we might be able to share ideas.
Well i guess he didn’t ask it because he is being hit. Rather he asked this question just because he wanted to get information because i think he is not been updated with his skills. http://www.webentrepreneur.ws/google-panda-changing-the-way-how-search-engine-works/ read this for panda updates and for penguin please keep unique and quality content on the website thats the only thing that can help you to keep your website not got penalized.
Hope you got your answer 
Aside from producing good quality content, you need to know what is good and bad back linking. Good backlinks give you plus points to Google SERPs. The bad ones make your website a candidate for penalty. Identify what sites that produces bad linkage to yours. You can block them by using the Disavow link. Quality back linking eliminates the red flags that your site gives to Google.
best thing to solve penguin 2.0 update directory submission