checkdir: cannot create extraction directory

I am trying to unzip a file using the following command from a bash script under cygwin and receive the following error - which looks as though it may be permissions related. Does anyone have any idea what may be causing it ?

code :
# if the target directory does not exist, create it.
if [ ! -d ${TARGET_DIR} ]
then
  echo making target dir
  mkdir ${TARGET_DIR}
fi
unzip -u ${SRC_DIR} "**/*.jar" -d ${TARGET_DIR}

error:
checkdir:  cannot create extraction directory /cygdrive/c/target

any ideas ?