SRT governor Prapas Chongsanguan made the threat on Friday (May 31) as the SRT prepared to take its case to the Supreme Administrative Court.
The Central Administrative Court ruled the day before that the SRT could not increase the monthly rental fees from B890 to B3,157 per stall.
The ruling was made on the grounds that the SRT had no authority to manage the market because the area was not associated with rail transport, even though the Chatuchak area belongs to the SRT.
The SRT took over one of the most popular markets in the country from the Bangkok Metropolitan Administration after the latter’s lease contract expired last year.
The railway agency then decided to increase rents and shop owners countered by taking the case to the court.
The SRT is the most heavily indebted government agency in the country, with accumulated losses of B40 billion. While it owns many plots of land with very high development potential, it lacks the funds to make even the most basic investments.
Mr Prapas said was surprised by this week’s ruling, adding that the SRT would appeal it to the higher court.
He defended the rental increase as it included other services including electricity and running water charges. The old rate set by the BMA did not include other costs, he added.