How we can counter the penultimate action impact upon a bsuiness website that is about 3 yrs old. The penalty was imposed probably by Penguin. What should be the approach to find a good SEO company India?

You can find people in various freelancing sites (Elance, Odesk, Freelancer, Guru etc.). At the same time you can take a look at your back links and see which are not of a good quality and might have been the reason of your problems. Disavow them and see if your rankings go up again.

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