  It is well known that New Physics can contribute to weak decays of heavy
mesons via virtual processes during its decays. The discovery of New Physics,
using such decays is made difficult due to intractable strong interaction
effects needed to describe it. Modes such as B -> K^* l^+ l^- offer an
advantage as they provide a multitude of observables via angular analysis. We
show how the multitude of "related observables" obtained from B -> K^* l^+ l^-,
can provide many new "clean tests" of the Standard Model. The hallmark of these
tests is that several of them are independent of the unknown universal form
factors in heavy quark effective theory. We derive a relation between
observables that is free of form factors and Wilson coefficients, the violation
of which will be an unambiguous signal of New Physics. We also derive relations
between observables and form factors that are independent of Wilson
coefficients and enable verification of hadronic estimates. We show how form
factor ratios can be measured directly from helicity fraction with out any
assumptions what so ever. We find that the allowed parameter space for
observables is very tightly constrained in Standard Model, thereby providing
clean signals of New Physics. We examine both the large-recoil and low-recoil
regions of the K^* meson and point out special features and derive relations
between observables valid in the two limits. In the large-recoil regions
several of the relations are unaffected by corrections to all orders in
\alpha_s. We present yet another new relation involving only observables that
would verify the validity of the relations between form-factors assumed in the
low-recoil region. The several relations and constraints derived will provide
unambiguous signals of New Physics if it contributes to these decays.
