PPM HELP

Hey,

While working on PPM CTK, whenever I try to initialize PPM's database, it throws an error on which I am stuck from a very long time. The error is mentioned below:

E: 01/01/15 14:29:28 [IMP] Error connecting to server. SSL may not be properly configured.
    Exception creating connection to: CTSC00502195001.cts.com; nested exception is: 
    java.net.SocketException: No buffer space available (maximum connections reached?): connect    [java.rmi.ConnectIOException]
 

Can anyone please suggest what is the cause of the error and how can it be fixed?

Thanks,

Mayank