Modular multilevel converter (MMC) is widely explored for offshore wind farms and large-scale photovoltaic (PV) plants for high voltage (HV) and medium voltage (MV) power processing. The MMC comprises of sub-modules (SM) connected in series and can provide higher voltage levels. The dc-ac power conversion through MMC is done through grid forming (GFM) control to regulate voltage magnitude and frequency. In the GFM mode of operation, power converters are susceptible to low-order voltage and frequency oscillations and instability. This paper presents an Andronov-Hopf oscillator (AHO) based virtual oscillator (VO) control for MMC with dual voltage and current control to address such issues. The modulation scheme includes rule-based SM voltage balancing to maintain SM capacitor voltages. The simulation results show the stable operation of the MMC through load variations.