In recent years, coronary artery disease is escalating and is likely to assume an epidemic proportion by 2030. Currently the reliable methods for detection of coronary arterial lesions are either conventional coronary angiogram (CAG) or MDCT (Multiple Detector Computed Tomography) coronary angiogram. Conventional CAG is an invasive procedure. Conventional CAG and CT (Computed Tomography) angiogram, both require expert supervision of either an interventional cardiologist or a radiologist. In this work, we have proposed a novel design and method for non-invasive detection and localization of coronary arterial lesion using Impedance Cardiography (ICG). The ICG signal recorded by the proposed device is used to extract feature points and compute augmentation index, amplitude and other time related parameters. The extracted features are used as input to a trained artificial neural network, for detection and prediction of coronary arterial lesions. The trained network generates specialized models, to be used for diagnosis of arterial lesions. The proposed methodology detects lesion in Left main coronary artery (LMCA), Left anterior descending artery (LAD), Diagonal branch, Left circumflex artery (LCX), and Right coronary artery (RCA) with an accuracy of 92%, 82%, 76%, 76%, 84% respectively. The proposed device could be also used by a common individual for detection of arterial lesion without any expert supervision, unassisted. The proposed algorithm eliminates the need of CAG for diagnosis of coronary arterial lesions (stenosis), and provides an insight into a new method for non-invasive monitoring of cardiovascular haemodynamics, detection and localization of coronary arterial lesion.