Ghost production is when the so called producer or executive producer of the album pays someone else to produce the music for an album without giving credits to the producer. This is very big nowadays in the Indian music industry. I beleive Dr. Zeus has started the ghost production by paying the likes of Kam Frantic. Actually, Kam Frantic is one of the biggest ghost production artists used in the Indian music industry. Every 2nd or 3rd album is ghost produced by Kam Frantic in the Indian music industry. Other ghost producers are: Aman Hayer, B21 - Bhota & Bally Jagpal, RDB.
In my personal opinion, ghost production is all right when the actual producer deserves the credits for producing the tracks/songs! However, when an artist, who just simply pays the other producers and uses it for himself and says that he produces it, this is wrong.