Hi there,
I am using airgrid m5 to my bts, and tried to connect through lite5 from customer end. but every time lite5 initiated the registration of airgrid but fails, while another airgrid m5 is working fine as CPE. I tried lite5 as CPE for 433AH AP, its working fine. Am i lacking somewhere... Please help..!!

Disable AirMax on the Airgrid M5.
If you want to connect Mikrotik gear to Ubiquiti gear you cannot use their proprietary protocols. Same thing applies to nv2 and nstreme if you use Mikrotik as AP and you want to connect Ubiquiti gear to it.

Use the 802.11 n protocol
A good advice:
mix not different brand devices for a point to point link if you want a good performance.
The devices speaks not the same langauge then is a good communication difficult
Like cybertod say disable airmax on the airgrid.
Don't expect high performance that way

is a stupid idea to mix two different products from different manufacturers.
You lose if the turbo as nstream, nv2, airmax.

Just as @CyberTod mentioned. Turn off airmax in ubnt and change in Mikrotik on any.

It's not stupid. In 2 towns I use Omnitik in 802.11 and as clients a combination of NS5, wispstation5, Loco5, Sxt Lite5, AirgridM5 and Rb411 with R5H. So there are stations in legacy 802.11A 20Mhz, 802.11AN in 40Mhz and all of them are working very good. Do you want a picture?

It's not stupid. In 2 towns I use Omnitik in 802.11 and as clients a combination of NS5, wispstation5, Loco5, Sxt Lite5, AirgridM5 and Rb411 with R5H. So there are stations in legacy 802.11A 20Mhz, 802.11AN in 40Mhz and all of them are working very good. Do you want a picture?

The idea is that you never do not use the full capabilities of these devices, because you will never be able to turn nstream, nv2, airmax

I will see the throughput and ping results please.

It is never wise to use another brand of appliances would you like to achieve good performance.
You lose the special options of the link equal Nstreme Nv2, etc.

Thanks a load to all for immediate reply.... though I haven't tried it again, but thanks a lot.

i have many network issues. So please tell me what is the best for me........

It depends on what kind of network issues you have.
Maybe your crimping tool is broken.
Also LHG 5 is a cheaper and better choice now.