Optical camera communication (OCC) is a potential candidate for the commercial deployment of vehicular communication. Recently, researchers have focused on the development of an OCC-based advanced driver assistance system. In this paper, we have proposed a pothole detection and road banking angle estimation technique from the rear LED shapes of the forwarding vehicle using OCC to ensure safe and comfortable driving. Mathematical approaches, as well as neural network-based methods, have been developed to provide highly accurate results. The proposed system is also applicable to detect stuck vehicles in icy conditions.