This round began badly for Dunne as Ponsawat got the better of him in a series of early scuffles.
The two men met in the centre of the ring and the match became an all out brawl.
It went from bad to worse when out of nowhere he was driven to the canvas by a lightning fast blow from the challenger.
Dunne arose groggily to his feet and tried valiantly to stave off his attacker but couldn`t hold him off for long.
Again he hit the canvas, and again he summoned up the strength to get up.
We could tell at this point that Dunne was running on empty and sure enough he was knocked off his feet for the third and final time.
Dunne was defeated under the 3 knockdown rule and relinquished his title to Ponsawat who claimed a deserved win.
Despite the loss Dunne pledged to regain his title and paid tribute to all his fans, thanking them for their support throughout his career.
As for the immediate future he will take a break from boxing and is looking forward to spending time with his family.
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