Description:
------------
Can't check file by symlink, but do it by realpath

run.bat
SET "URL=http://windows.php.net/downloads/releases/php-7.1.1-Win32-VC14-x64.zip"
SET "FILENAME=%~dp0\php7.1.1.zip"
bitsadmin.exe /transfer "php7.1.1" "%URL%" "%FILENAME%"

SET "URL=http://windows.php.net/downloads/releases/php-7.0.15-Win32-VC14-x64.zip"
SET "FILENAME=%~dp0\php7.0.15.zip"
bitsadmin.exe /transfer "php7.0.15" "%URL%" "%FILENAME%"

for /F "delims=" %%I IN (' dir /b /s /a-d *.zip ') DO (
    "C:\Program Files\7-Zip\7z.exe" x -y -o"%%~dpI\%%~nI" "%%I"
)
MKDIR "%~dp0Новая папка"
MKDIR "%~dp0Новая папка\Новая папка"
MKDIR "%~dp0Новая папка\Новая папка\sql"

echo File is readable! >"%~dp0Новая папка\Новая папка\sql\test.txt"
MKLINK /D d "%~dp0Новая папка\Новая папка\sql"

@echo off
php7.0.15\php.exe -c="php7.0.15\php.ini-development" run.php
php7.1.1\php.exe  -c="php7.1.1\php.ini-development"  run.php

Test script:
---------------
// run.php
<?php
$dir = 'Новая папка\Новая папка\sql';
function isReadable($path) {
    return (is_readable($path) ? ' +': ' -');
}
function check ($path) {
    $path .= '\test.txt';
    return isReadable($path) . isReadable(__DIR__.DIRECTORY_SEPARATOR.$path);
}
print 'PHP '.PHP_VERSION."\t" . check($dir) . check('d') . PHP_EOL;

Expected result:
----------------
PHP 7.0.15	 + + + +
PHP 7.1.1	 + + + +

Actual result:
--------------
PHP 7.0.15       + + + +
PHP 7.1.1        + + - -