I found this amazing information in xda site. Which, dolby feature is now available in any android phone OS 4.1 up. Simply flash this using TWRP or CWM. ENJOY KA-PH!!:asmile::ajacklad:
Warning: DO IT ON YOUR OWN RISK!!
Download link
http://forum.xda-developers.com/devdb/project/dl/?id=13100