"The accused were produced in the court and were remanded in further police custody till January 2," said Special Public Prosecutor Dileep Shah, adding that MCOCA was invoked against them.
A total of eight people have been arrested in the case.
On December 20, police arrested Naik and others on Bhawani Shankar Road in Dadar area when they allegedly came to collect extortion money of Rs 50 lakh from a local builder.
Naik had allegedly collected Rs 25 lakh from the same builder earlier this month.
On December 18, the builder approached Dadar police, after which a trap was laid and Naik and others were nabbed.