CCTV footage of the incident – played in the ACT Magistrates Court on Wednesday - showed three men meeting two men in motorcycle clothing at an entrance to Westfield Belconnen about 6pm on October 4.

The trio then assaulted the two men, before stripping them of clothing bearing the word FINKS.

Police allege Kirk Jacques Newman, 27, is one of the trio and punched one of the men in the head as he tried to escape.

Court documents allege the two co-offenders were Canberra Rebels members Dean Stephen Reid, 26, and Fakatounaulupe Ngata, 35.

Both co-accused are still in custody.

But Newman has pleaded not guilty to charges of affray and participating in a criminal.

Newman made his second bail application on Wednesday, which was opposed by the prosecution.

Prosecutor Mark Fernandez said the defendant posed a risk to public safety and could tamper with evidence or harass witnesses if released.

Mr Fernandez said the violent incident had occurred in a public place at a time of day when members of the community would be expected to be present.

The prosecutor said the incident had been a case of one gang attacking another, leaving a volatile situation because the Finks had been publicly humiliated.

He argued the gangs had a code of settling disputes among themselves and could seek to retaliate.

But defence lawyer, Paul Edmonds, said his client denied being involved in the incident.

Mr Edmonds described the allegations against Newman as an "ID case" and evidence before court did not establish his involvement.

The lawyer said the victims had provided no statements, there were no witnesses and the man alleged to be his client in the footage had his face covered by a hat.

Mr Edmonds told the court the only evidence police had against his client had been a shirt, seized by police, that looked similar to one worn by the perpetrator.

But he said it could be a common shirt and the man in the video could be "any young man in the ACT".

The defence argued police had enough time to collect evidence in the month since the incident.

Chief Magistrate Lorraine Walker denied Newman bail, saying he posed a "major risk" to public safety.

Ms Walker said offers to reside and report to police only went to risk he would not reappear before the court.

But she said no conditions could mitigate the physical and psychological risk to the Canberra community.

The matter was listed for case management hearing in January.