The bench of Justice M Enayetur Rahim and Justice Md Mostafizur Rahman passed the order.
The court also issued a rule seeking explanation as to why the four bodyguards should not be granted bail.
All concerned including the Anti-Corruption Commission (ACC) have been asked to respond to the rule within four weeks.
The four accused are Md Jahidul Islam, Md Shahidul Islam, Md Kamal Hossain and Md Shamshad Hossain.
Advocate Md Khurshid Alam Khan stood for ACC while Advocate Shamim Sardar represented the state.
GK Shamim, who was known as an influential contractor of Sabujbagh, Basabo and Motijheel areas of the capital, and his bodyguards were arrested on September 20, 2019 from Niketan area.
Rapid Action Battalion (Rab) members seized illegal firearms and Fixed Deposit Receipts (FDRs) worth Tk 165 crore, Tk 1.8 crore in cash and foreign currencies from his house and office at Niketan.
Also read: HC wants to know how 4 bodyguards of GK Shamim got arms license