Hi Harsha,
Right Click & Cut = Reading the value of the cell into the clipboard, and empty the cell.
Use the Excel VBO, to first read out the cell value, and store it in a data item.
Then use the Excel VBO to write """" (an empty string) to that cell...
And with the cell value which is in your data item, you can do whatever you want; Even moving it to the clipboard with the object Utility - Environment and the action Set Clipboard