  Using the most general, model independent effective Hamiltonian, the
branching ratio of the (B -> K^* l^+ l^-) decay, when K^* meson is
longitudinally or transversally polarized, is presented. The dependence of the
branching ratio on the new Wilson coefficients, when K^* meson is polarized, is
studied. It is observed that the branching ratio is very sensitive to the
vector and tensor type interactions, which will be useful in search of new
physics beyond the Standard Model.
