The kinetic arrest of martensitic transformation (MT) has been observed in as-solidified Ni52.2Mn34.3In13.5 melt spun ribbons. The main characteristics of this unusual field-induced magneto-structural phenomenon have been determined through a dc magnetization study. The sample studied was fabricated by rapid solidification using the melt spinning technique at a high quenching rate of 48 ms-1. At room temperature, it is a single phase austenite (AST) with the bcc B2-type crystal structure and Curie temperature of T C A =285 K. With decreasing temperature, the austenite phase transforms into the martensite phase (MST) with T C M ≈185 K at a starting martensitic transition temperature of M S =275 K. A moderate but progressive kinetic arrest of the AST to MST transformation has been observed for magnetic field values above H=10 kOe and was studied up to H max = 90 kOe. The metastable character of the non-equilibrium field-cooled state is revealed by the decreasing behavior of the saturation magnetization under a large magnetic field of 50 kOe after temperature cycling from 10 K to 150 K. The total magnetization difference Δσ between the zero field-cooling and field-cooling pathways of the temperature dependence of magnetization shows irreversible and reversible components and the former decreases with decreasing temperature.