Toad Options | Version Control System screen was used to integrate SVN with Toad. A new project was also created with Version Control System option. In Messages Explorer project was checked out. When using the Add option to create a new folder, a question mark is shown next to folder name. Performing a Commit also shows a question mark and cannot proceed with version control.
Tortoise was installed in a non-standard installation and command line tools were not installed.
Toad requires SVN.exe to be installed with the Tortoise client installed, so it can execute and pass SVN command lines statements.
Reinstall Tortoise and in the installation wizard select "Command Line Tools".