I search through a lot of forums and so many sites searching for at least one glimpse of code fragment which describes the flash as a server...!!!
Alas, I could not.
This is a fact. Flash does not provide any class like ServerSocket (which is available in Java).
I am planning therefore write my own class which will resemble the functionality of a ServerSocket though in the background it will be just a simple Socket...! Does not this sound great..
Will let you know if in the future I complete my project in this regard.
All the best until then, and do let me know if you find something like this on your own or from any other resource.