In one of the Govt Tender case, the Company selected for award of contract, has not turned up to remit Security Deposit timely, So tender EMD (earnest money deposit) forefitted. So company has approched the Highcourt where its petition is dismissed. After that Comapny balcklisted for 1 year for various reasons. Now after 3 months & lapse of tender time limit, comapny is approching to remit Security deposit and showing intrest to get work and revive the Tender. So What should be the action/decision as per Indian contract Act ?