Explanation of the Answer:

Section 52 of the Companies Act, 2013 specifies the purposes for which a company can use its Securities Premium Reserve. Securities Premium Reserve refers to the amount received by a company on the issue of shares at a premium, which is the amount received in excess of the face value of the shares.

The correct answer to the given question is option 'A', which states that Securities Premium Reserve cannot be utilized for writing off capital losses. Let us understand why this is the correct answer:

1. Writing off Capital Losses:
- Capital losses refer to the losses incurred by a company on the sale of its capital assets, such as land, buildings, machinery, etc.
- Section 52 of the Companies Act does not permit the use of Securities Premium Reserve for writing off capital losses.
- The purpose of the Securities Premium Reserve is to create a reserve fund that can be utilized for specific purposes such as the issue of bonus shares, writing off discount on the issue of securities, and writing off preliminary expenses.

2. Purpose of Securities Premium Reserve:
- The Securities Premium Reserve can be utilized for the following purposes, as per Section 52 of the Companies Act, 2013:
- Issue of fully paid bonus shares: A company can use the Securities Premium Reserve to issue bonus shares to its shareholders without collecting any additional capital from them.
- Writing off discount on issue of securities: If a company issues securities (shares, debentures, etc.) at a discount, it can utilize the Securities Premium Reserve to write off the discount amount.
- Writing off preliminary expenses: A company can use the Securities Premium Reserve to write off any preliminary expenses incurred during the formation of the company, such as legal fees, registration charges, etc.

Conclusion:
In conclusion, as per Section 52 of the Companies Act, 2013, Securities Premium Reserve cannot be utilized for writing off capital losses. However, it can be utilized for the issue of fully paid bonus shares, writing off discount on the issue of securities, and writing off preliminary expenses.