Panhalakaji Caves are situated in the Ratnagiri district of Maharashtra state, about 160 km south of Mumbai.

[1] In the 10–11th century AD another Buddhist group, a Vajrayana sect, established cave 10 with their deities Akshobhya and Mahachandaroshana; and strengthened their practice in that region.

[2] There are total 29 caves out of which 28 are situated on the right bank of mou tain stream Kotjai.

A list of important caves includes:[2] Deshpande, Madhusudan Narhar (1986).

The caves of Panhāle-Kājī (ancient Pranālaka): an art historical study of transition from Hinayana, Tantric Vajrayana to Nath Sampradāya (third to fourteenth century A.D.).