I encountered this situation when using MobaXterm Personal Edition v24.1.
I have:
$ pwd
/home/mobaxterm
$ ls
Desktop LauncherFolder MyDocuments
If I enter into a directory:
$ cd Desktop
bash: cd: Desktop: No such file or directory
I noticed that these folder are symlink:
$ ls -l
total 0
lrwxrwxrwx 1 XXX Domain Users 42 2025-08-06 15:38 Desktop -> /drives/D/Users/XXX/Desktop/
lrwxrwxrwx 1 XXX Domain Users 36 2025-08-06 15:38 LauncherFolder -> /drives/C/PROGRA~2/Mobatek/MOBAXT~1/
lrwxrwxrwx 1 XXX Domain Users 44 2025-08-06 15:38 MyDocuments -> /drives/D/Users/XXX/Documents/
When I use the absolute path, it works properly. I don't understand the "No such file or directory" error.