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Hi Nikhil,
MMC means Microsoft Management Console, its an interface console, usually you get by using Services.msc command in Run window.
Hope, this will answer your query. Feel free to write if you need more information.
Please don't forget to mark as answer if this helps.
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Hi Nikhil,
The one of the reason for this error is your service code is throwing some exception and because of that service is not being started by MMC.
Now, to get the exact exception, you need to check event viewer. it must be logged in event viewer under Application/windows error logs.
Hope, this will help you to diagnose the issue. Feel free to write if you need more information on this.
Please don't forget to mark as answer if this helps.