Android : Android Studio not opening on window 64 bit

I installed Android Studio but the below error is being displayed on startup.

I had multiple versions of Java JDK installed on my system. i.e JDK 1.6 (64 bit), JDK 1.8 (both 64 bit and 33 bit).

I had also set the java_home path to (E:\Program Files\Java\jdk1.8.0_31) 64 bit but some how android studio is showing error as it is using JVM path as jdk_1.6.0_12\jre (shown in image )

Any help is appreciated on how to make Android start up without un-installing any JDK version.