Nanocrystalline ribbons of inverse Heusler alloy Mn2Ni1.6Sn0.4 have been synthesised by melt spinning of the arc melted bulk precursor. The single phase ribbons crystallize into a cubic structure and exhibit very fine crystallite size of < 2 nm. Temperature dependent magnetization (M-T) measurements reveal that austenite (A)-martensite (M) phase transition begins at T~248 K and finishes at T~238 K during cooling cycle and these values increase to T~267 K and T~259 K while warming. In cooling cycle, the A-phase shows ferromagnetic (FM) ordering with a Curie temperature T~267 K, while both the FM-antiferromagnetic (AFM) and M-transitions occur at T~242 K. The M-phase undergoes FM transition at T~145 K. These transitions are also confirmed by temperature dependent resistivity measurements. The observed hysteretic behaviour of magnetization and resistivity in the temperature regime spanned by the A-M transition is a manifestation of the first order phase transition. Magnetization and susceptibility data also provide unambiguous evidence in favour of spin glass . The scaling of the glass freezing temperature (Tf) with frequency, extracted from the frequency dependent AC susceptibility measurements, confirms the existence of canonical spin glass at T<145 K. The occurrence of canonical spin glass has been explained in terms of the nanostructuring modified interactions between the FM correlations in the martensitic phase and the coexisting AFM.
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