The land acquisition judge is the ultimate authority who distributes the amount received against acquisition of land from the government if it not distributed among the land owners it does not mean that the amount has already been paid in your case as the land has not been taken by the government and the amount of compensation has been not distributed by the land acquisition officer through the land acquisition judge this acquisition is not complete and you have the authority to possession of land

Supreme Court in Pune Municipal Corporation & another vs. Harakchand Misirimal Sonanki & ors 2014 (3) SCC 183.

for the purposes of Section 24(2), the compensation shall be regarded as "paid" if the compensation has been offered to the person interested and such compensation has been deposited in the court where reference under Section 18 can be made on happening of any of the contingencies contemplated under Section 31(2) of the 1894 Act. In other words, the compensation may be said to have been "paid" within the meaning of Section 24(2) when the Collector (or for that matter Land Acquisition Officer) has discharged his obligation and deposited the amount of compensation in court and made that amount available to the interested person to be dealt with as provided in Sections 32 and 33.

Land acquisition invalid if compensation not paid to owner. there are certain supreme court judgement which say that if compensation is not paid the land has to be restored back to the original owner.

I have already quoted SC judgment 

Dr. Radhakrishna Co-Operative ... vs Government Of Karnataka, Housing ... on 27 March, 1998

No the acquisition failed and the landowners will be the absolute owners. As the money was deposited in court and never reached you.  You can file writ petition if you require in high Court

If the compensation amount deposited in court have not released in the accounts of land owners then it is not considered as amount paid to land owners. 

You can file petition in court for returning the amount to collector for release of land on name of land owners as the land is not required by govt any more.