The accused were identified as Amarjeet Singh, Ajay Kumar Sharma, Suresh and P K Varun (Assistant General Manager) of PNB. (Reuters) Four persons including an official of Punjab National Bank Brady house branch in Mumbai whose name figured in the Nirav Modi controversy were arrested in connection with a loan racket, the police said Friday. The accused were identified as Amarjeet Singh, Ajay Kumar Sharma, Suresh and P K Varun (Assistant General Manager) of PNB, they said. Police said the accused Singh in connivance with PNB officials got sanctioned a loan to the tune of Rs 7.5 crores to open a luxurious F Bar and Lounge at Delhi's Connaught Place. After the Nirav Modi incident, the accused Singh left his address and even switched off his phone since his loan was also connected with the same branch as that of Nirav Modi's.