Memon, who turned 53 today, was hanged at Nagpur Central Prison at 7 am, the hour set by the TADA court for execution of his death warrant, that came under repeated challenge by his legal team.
"He was hanged at 7 am sharp," Maharashtra Chief Minister Devendra Fadnavis told PTI in a text message.
His body was later handed over to his brother Suleman and cousin Usman, who had been camping in Nagpur since yesterday. It is now being flown to Mumbai for the last rites, official sources said.
Barely had a three-judge bench of the Supreme Court yesterday rejected his petition seeking a stay on execution and found no infirmities in the apex court's dismissal of his curative petition, Memon filed a fresh mercy plea before the President Pranab Mukherjee.
Mukherjee soon went into a huddle, first with Home Minister Rajnath Singh, who was later joined by Home Secretary L C Goyal and Solicitor General Ranjit Kumar. The confabulations dragged on for two hours before the President rejected it.
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