Do Indian media houses hire prostitutes on short term contract by their MDs to satisfy their editors?

Yes, they do. Indian media only concoct stories. < 20 % are true & accurate ones.

This is a very inappropriate question...how can there be a standard or even a prevalent practice in such undesirable matters. Let me tell you, some of Media Houses observe very strict, authentic norms in their conduct of business.

At the same times there are people who indulge in cheap mannerism and don't feel bad about it but normally professional class of people don't mix pleasure with business that too of such profanity

Definitely it's possible to make profits. Specially when the profit is in crores. People take any path to reach their target.