The two men, Gerard Anthony Andrews, 29, and Daniel Stevens, 24, appeared via video link in a Sydney court on Thursday charged with killing 85-year-old widower Chris Baghsarian.
The men were arrested by heavily armed police after the remains of Mr Baghsarian were found in bushland in Sydney's northwest fringe.
Police allege the pair and a third unknown person abducted Mr Baghsarian from his home in North Ryde in a case of mistaken identity 11 days ago.
Andrews' lawyer, former police officer Paul McGirr, said the alleged facts were disturbing but his client was not the mastermind of the incident.
"It's a horrific set of (alleged police) facts that I've read," Mr McGirr said.
"I have a job to do and it's very hard at this particular moment for me to do that job."
Andrews appeared on the court video link in the same white Gucci T-shirt he was seen wearing in arrest footage released by police.
He responded "yes, I can", when asked if he could see and hear the court.
The lawyer for Stevens asked if his client could be sent antiviral medication for shingles while he is in custody.
"The shingles is not contagious anymore, I just haven't showered for 24 hours," Stevens said from Amber Laurel Correctional Centre.
Authorities believe Mr Baghsarian was killed at a makeshift stronghold in the semi-rural Sydney suburb of Dural before his body was dumped hours later.
"It's somebody's worst nightmare, right?" Detective Acting Superintendent Andrew Marks said on Wednesday.
"These people need to be held to account for that, and that's why we are bringing these people before the courts."
Vehicles, electronics and clothing relevant to the investigation were seized during the search warrants at Kenthurst, Castle Hill and Lake Macquarie.
Police are searching for the third alleged offender with the belief that more were likely involved in the incident.Â
Authorities believe the intended target for the abduction was a relative of Sydney businessman Dimitri Stepanyan, who lived on the same street as Mr Baghsarian.
Det Act Supt Marks suspected the intended target was to be kidnapped in hope of a ransom fee being paid and confirmed reports the figure demanded was $50 million.
Mr Baghsarian's family, who described the harrowing ordeal of the kidnapping as a "nightmare", expressed relief the alleged offenders had been caught.
They have asked for privacy, as they come to grips with the death of their devoted father, brother, uncle and grandfather "who would never hurt a fly".
Both Andrews and Stevens were refused bail and will return to court on April 17.
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