The double perovskite Y 2 NiMnO 6 displays ferromagnetic transition at T c ≈ 81 K. The ferromagnetic order at low temperature is confirmed by the saturation value of magnetization (M s ) and also, validated by the refined ordered magnetic moment values extracted from neutron powder diffraction data at 10 K. This way, the dominant Mn 4+ and Ni 2+ cationic ordering is confirmed. The cation-ordered P 2 1 /n nuclear structure is revealed by neutron powder diffraction studies at 300 and 10 K. Analysis of frequency dependent dielectric constant and equivalent circuit analysis of impedance data takes into account the bulk contribution to total dielectric constant. This reveals an anomaly which coincides with the ferromagnetic transition temperature (T c ). Pyrocurrent measurements register a current flow with onset near T c and a peak at 57 K that shifts with temperature ramp rate. The extrinsic nature of the observed pyrocurrent is established by employing a special protocol measurement. It is realized that the origin is due to re-orientation of electric dipoles created by the free charge carriers and not by spontaneous electric polarization at variance with recently reported magnetism-driven ferroelectricity in this material. The double perovskite (DP) family of compounds with chemical formula R 2 M ′ M ′′ O 6 (R = rare earth, M ′ /M ′′ = transition metal) became an important research topic in the search for multifunctional materials by virtue of the wide variety of material properties shown by them, such as ferromagnetism, magnetocapacitance (MC), magnetoresistance (MR) and spin-phonon coupling.[1-4] Magnetic behavior of DPs is complex as a result of various exchange interactions between ions with different valencies (M ′3+ , M ′4+ , M ′′3+ , M ′′2+ , etc.) mediated through the intervening oxygen. These valencies are stabilized in DPs due to the presence of "antisite" disorder where M ′ and M ′′ cations interchange their respective crystallographic positions.[5] The ground state magnetic properties of double perovskites are determined by the degree of cationic ordering of the transition metal ions, M ′ and M ′′ . In ordered DPs i.e., where the M ′ and M ′′ ions are ordered crystallographically, M ′4+ and M ′′2+ layers alternate periodically.[5] Ordered R 2 NiMnO 6 DPs are ferromagnetic (FM) due to the Mn 4+ -O-Ni 2+ superexchange interaction conforming to Goodenough-Kanamori rules.[6] The inevitable presence of "antisite" disorder can introduce additional antiferromagnetic (AFM) interactions across the exchange pathways such as Mn 4+ -O-Mn 4+ and Ni 2+ -O-Ni 2+ .[7]A recent excitement in the field of DPs has risen from the prospect of realizing multiferroics.According to density functional theory calculations, R 2 NiMnO 6 series of compounds with small rare earth ions are predicted to be multiferroic from the nature of E * -type (↑↑↓↓ ) magnetic ordering which breaks the inversion symmetry and generates spontaneous electric polarization. [8] More recently, experimental evidences for multiferroicity have been reported...