Shaun Lamont, 25, of Albion Park Rail, and Darko Delovski, 33, of Barrack Heights, are accused of demanding cash from the man before taking his necklace as insurance for an alleged unpaid debt.

Police claim Lamont pulled out a knife and grabbed the man, warning him: "I'm not scared to use it ... go to the cops and you know what's going to happen."

It is alleged the pair went to the man's house on Saturday and ordered him into their car.

When he refused, he was told that Delovski's ex-partner, who was friends with the man, had stolen cash from Delovski's home and the missing money was now the man's responsibility, the court heard. Police claim Lamont then ordered the man to hand over the necklace, which Delovski said would be returned when the money was paid.

The incident was reported and police started monitoring the pair's phone calls.

Delovski was arrested on Monday during a meeting with the man, and Lamont was arrested a short time later.

They were both charged with robbery in company.

Delovski also faces an additional count of demanding property by force with intent to steal.

Both men were interviewed by police and allegedly admitted to going to the man's home but Lamont denied producing a knife while Delovski said he had simply gone there to find out where his former partner was.

Opposing the pair's bid for bail police prosecutor Rob Casey told the court there was a strong case against them, citing the telephone intercept evidence, and a need to protect the alleged victim.

Solicitor Danny Lagapodis said the pair would report to police.

Magistrate Darryl Pearce refused bail and adjourned the matter to February 20.