MMC NETWORKS INC
SC 13G, 1998-02-10
COMPUTER PERIPHERAL EQUIPMENT, NEC
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                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                  SCHEDULE 13G

                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                            
                            (AMENDMENT NO.      )*  
                                           -----


                              MMC Networks, Inc.
         -------------------------------------------------------------
                                (Name of Issuer)

                                 Common Stock
              ---------------------------------------------------
                        (Title of Class of Securities)

                                  55308N 10 2
                   -----------------------------------------
                                 (CUSIP Number)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


SEC 1745 (2-95)


                               Page 1 of 4 Pages
<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO. 55308N 10 2                 13G                PAGE 2 OF 4 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      Prabhat K. Dubey
      SSN#:  ###-##-####

- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [_]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 

- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4    
      United States of America

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5   
     NUMBER OF            1,800,000 shares/1/
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6
                          0
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7    
    REPORTING             1,800,000 shares/1/
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8
                          0
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9  
      1,800,000 shares/1/

- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10                  
      [_]
   
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11    
      6.3%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12
      IN

- ------------------------------------------------------------------------------

                     *SEE INSTRUCTION BEFORE FILLING OUT


(1)  Includes 502,590 shares held by Dr. Ranjana Sharma as custodian for Mr.
     Dubey's minor children.  Mr. Dubey disclaims beneficial ownership of all
     such shares.
<PAGE>
 
  CUSIP No. 55308N 10 2                 13G                PAGE 3 OF 4 PAGES
            -------------
<TABLE> 
<CAPTION> 

<S>                                                             <C> 
ITEM 1.
       (a)      Name of Issuer                                                  MMC Networks, Inc.

       (b)      Address of Issuer's Principal Executive Offices                 1134 East Arques Avenue
                                                                                Sunnyvale, CA 94086
 
ITEM 2.
       (a)      Name of Person Filing                                           Prabhat K. Dubey

       (b)      Address of Principal Business Office or, if none, Residence     c/o MMC Networks, Inc.
                                                                                1134 East Arques Avenue
                                                                                Sunnyvale, CA 94086
 
       (c)      Citizenship                                                     United States of America

       (d)      Title of Class of Securities                                    Common Stock, $.001 par value per share
 
       (e)      CUSIP Number                                                    55308N 10 2
 
ITEM 3.  THIS STATEMENT IS NOT BEING FILED PURSUANT TO RULE 13d-1(b) OR 13d-2(b)
 
ITEM 4.  OWNERSHIP
 
       (a)      Amount Beneficially Owned                                       1,800,000 Common Stock
 
       (b)      Percent of Class                                                6.3%

       (c)      Number of shares as to which such person has:

                  (i)   sole power to vote or to direct the vote -- 1,800,000

                 (ii)   shared power to vote or to direct the vote -- 0

                (iii)   sole power to dispose or direct the disposition of -- 1,800,000

                 (iv)   shared power to dispose or direct the disposition of -- 0
</TABLE>
 

ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

     If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more that
five percent of the class of securities, check the following  [_].

ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

          Not Applicable
<PAGE>
 
  CUSIP No. 55308N 10 2                 13G                PAGE 4 OF 4 PAGES
            -------------
 
ITEM 7.   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
          SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
               
          Not Applicable

ITEM 8.   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

          Not Applicable

ITEM 9.   NOTICE OF DISSOLUTION OF GROUP

          Not Applicable

ITEM 10.
          By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.


                                   SIGNATURE

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

 
                                           February 4, 1998 
                               ---------------------------------------- 
                                                 Date

                                         /s/ PRABHAT K. DUBEY
                               ---------------------------------------- 
                                               Signature


                                         Prabhat K. Dubey
                               ---------------------------------------- 
                                              Name/Title


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