diff --git a/mm/shmem.c b/mm/shmem.c
index db21c51..7013af1 100644
--- a/mm/shmem.c
+++ b/mm/shmem.c
@@ -510,7 +510,12 @@
 			size = SHMEM_NR_DIRECT;
 		nr_swaps_freed = shmem_free_swp(ptr+idx, ptr+size);
 	}
-	if (!topdir)
+
+	/*
+	 * If there are no indirect blocks or we are punching a hole
+	 * below indirect blocks, nothing to be done.
+	 */
+	if (!topdir || (punch_hole && (limit <= SHMEM_NR_DIRECT)))
 		goto done2;
 
 	BUG_ON(limit <= SHMEM_NR_DIRECT);