Hesham, you are right! I found this project in Shavrov book, but unfortunately without any pictures.
In contrast to Grigorovich I-Z which is written with Latin letter "Z" (
И-Z even in Russian, pronounced like "I-Zet"), this project designation used ordinary Cyrillic Z looking like "3" figure (
И-З, pronounced "I-Ze").
This "I-Ze" was an all-metal, low-wing aircraft with inverted gull wing. The engine was radial Gnome-Rhone 9Krs (850 hp power is specified by Shavrov, although this is power of bigger GR 14K / M-85 and GR 9K was only 550-hp, according to
http://en.wikipedia.org/wiki/Gnome-Rh%C3%B4ne_9K). The rest known data are specified in Hesham's post (thanks for him!). Hesham's source mentions a centreline landing skid, which looks strange enough with such wing configuration. Shavrov noted
two landing skids placed in wing bends, which is more logical. Another specific design features were retractable skyhook system and a special mechanism allowing to stop two-blade propeller in horizontal position (to avoid its damaging during emergency landing).
Source: Shavrov V.B. History of aircraft designs in USSR before 1938. – Moscow, 1986 (3rd edition). – P.543-544 (http://eroplan.boom.ru/shavrov/chr9/fighter/fight4.htm).
This seems to be the same project as described at
http://www.vectorsite.net/avparsit.html, though it's probably wrongly connected there to Grigorovich ("Grigor
ivich" is obviously a misprint). The connection to Zveno Z-7 is also doubtful: Z-7 was a combination of TB-3 and three I-16s, all three mating with carrier aircraft during flight as well as releasing from it. This Zveno version was tested in November 1939 (pilots Nyukhtikov, Suprun, and Stefanovsky) - much later than "I-Ze" project was cancelled.