Judicial Magistrate Dwaja Patkar, before whom the four were produced after their arrest last evening, granted them bail and rejected Goa Crime branch's application for their custody.
The Magistrate, in her order, said, "no grounds were made by Investigating Officer for custodial interrogation of the accused". She also said the ground for their arrest has not been specified by the investigating agency.
The accused - Paresh Bhagat, Raju Payanche, Prashant Naik and Karim Lakhani - were arrested hours after Irani, who was in the store located in Candolim village, raised an alarm after spotting the camera yesterday morning.
In a related development, the store manager has moved Goa Court for anticipatory bail. The manager, who is not traceable, filed the application through her lawyer.