An object is said to be in equilibrium condition when the net force acting on it is zero, meaning that the sum of all forces acting on the object is equal to zero. This means that the object is either at rest or moving with a constant velocity, and there is no acceleration. In other words, an object in equilibrium is not changing its speed or direction of motion. Additionally, an object in equilibrium is also not rotating, meaning the net torque acting on it is also zero.
It's important to note that an object can be in equilibrium even if it is in motion. The key is that the net force on the object is zero.