[SOLVED] CkEditor shows "Folder not found" error message when Browse Server button is clicked

When I click the 'Browse Server' button in image upload of CKEditor, it shows a "Folder not found" error message. This is because the absolute path is configured in the 'Private files' in admin/config/media/file-system The document root of the drupal application is prepended to the absolute path of the private folder which is causing this. I also noticed that the URL of the images attached is not a good structure with an additional '/' appearing in the image source path.