Terminated contract again awarded to same contractor

Respected learned members,I am working in public limited electricity distribution company LTD.Contract for erecction and construction of electricity contract has been terminated for non performance of contract .The official of company negligient in encashing bank guarentee as well as10% retention amount.Now the same contractor whose contract has been terminated approches company and ready to perform the obligation asnd agreed to deposit Bank g and perform the works at old rate ie terminated contract rates .My question is it lawful to make a fresh new agreement/contract with same contractor without going for tendering again( sinceflotting new tender means the increse in costof tender at the riskand cost of terminated contractor, since the Company not encash the bank guarentee as well as not retain 10%retension amount it means company has bear the incresed cost burden.Sir,please guide i am waiting eagarly If case law provided it will be very helpful forme