The present disclosure provides a multi-rotor Aerial Vehicle comprising at least five arms. Pairs of coaxial contra rotating rotors/propellers are configured on each arm defining a polygon. In the event of failure of any one of the rotors/propellers, a control system incorporating an autopilot, shuts off corresponding contra rotating rotor/propeller of the pair to maintain yaw stability thereby rendering the corresponding arm non-functional; and adjusts throttles of the coaxial contra rotating rotors/propellers of remaining functional arms to maintain tilt and lift stability of the Aerial Vehicle.