The decay mode $B\to K^* \ell^+\ell^-$ is regarded as one of the attractive mode to look for physics beyond standard model (SM) due to the measurement of large number of observables in experiments. Starting with the most general parametric form of the decay amplitude within SM, two different analyses have been carried out. First we show how recent LHCb data can be used without any approximations to extract theoretical parameters describing the decay. We find significant discrepancies in the form factor values obtained from experimental data when compared with theoretical expectations in several dilepton invariant mass squared ($q^2$) bins. We emphasize that the discrepancy observed in certain variables cannot arise due to resonances and non-factorizable contributions from charm loops. Secondly, the same model independent framework has been implemented in the maximum $q^2$ limit to highlight strong evidence of right-handed currents, which are absent in the SM. The conclusions derived are free from hadronic corrections. Our approach differs from other approaches that probe new physics at low $q^2$ as it does not require estimates of hadronic parameters but
relies instead on heavy quark symmetries that are reliable at the maximum $q^2$ kinematic endpoint.