Finally, I have determine the reson for this error /issue. And I do have a slution to get rid of this error. This error was produce in ALM11 and solution is based of ALM11.
Cause: the clprit was Special characters (Emoji) in Description or Comment field.
Solution: 1st Determine which defect is corrupted. Take a back up of content in Description or Comment field that has Special characters (Emoji). Then wipe out Comment or Description content from backend process runing UPDATE SQL statement. Once, this is done log into the affected project and see how behaves. After successful log into the project, you can re-store the original content into Description or comment field. But, ensure when you re-store not to put Special characters (Emoji).