What is meant by rewarding No-Grades when one's adviser remained satisfied towards one's research?
Before jumping to conclusions, first review your university's grading policy. There may have been changes to the classification system.

If, after reviewing it, you find that the grade is indeed "negative," then you need to have a conversation with your advisor. Do not come with an accusatory tone, as that will end badly for everyone. I would ask something like:


  "I'm a little confused about my thesis grade. I thought I was making satisfactory progress this semester. Could you explain what I need to do to improve?"


This will give your advisor an "out" if there was just an administrative mixup (for example, if it's a bubble form that was improperly filled out) or some other problem. On the other hand, if there's something serious, then you'll know. But usually a good advisor will level with you if there's serious issues in your work.