Yes, Madan is a male name used in India. It is of Sanskrit origin, and it is not pronounced like Maiden in India. In Hindi, both the vowels are short mid-central unrounded (schwa, in other words) like the vowel in English nut. Other languages will pronounce them slightly differently: in Bengali, for example both vowels are back, the first -a- being mid-open (like the English dog in some pronunciations), the second mid-close (like a short version of English cold). The Sanskrit pronunciation was like the Hindi one, except it was trisyllablic: madana. The original stress was on the first syllable, though classical Sanskrit and modern North Indian languages do not have word-level stress.
The word derives from mad, to get drunk/be glad (etymologically related to Latin madere), and means passion. It was the name of the god of love and is attested as a male name (or first part of a name) in classical Sanskrit literature.