Govind,

broken tool detection is something you can program into your tool changes as long as you have a way of identifying the broken tools. Renishaw are the first company that springs to mind for this. You can also get the same hardware from japanese companies such as Metrol:

http://www.metrol.co.jp/en/products/

With your machine you can write macros or other routines such that before a tool is used or after it is used, the machine will test it:

https://www.youtube.com/watch?v=CnHKpFOYgEI

I hope this helps you