Trainer Dr Richard Newland was asked to explain the performance of his Grand National winner Pineau De Re after he placed 11th on his return to action.
The 11-year-old was beaten by 66 lengths in the 15:00 GMT at Cheltenham but stewards took no further action.
"I tried to explain to the stewards that is how he has to be ridden. I was happy with the ride," Newland said.
It was the horse's first race since winning the National by five lengths in April as a 25-1 shot.
Stewards were concerned the gelding was never placed in a challenging position and opened an inquiry under regulations known colloquially as the "non-triers" rules.
However, they "noted" the explanations of Newland and jockey Daryl Jacob that Pineau De Re has to be held up but then got a little more tired than expected.
Pineau De Re is likely to return to Cheltenham's December fixture as part of the build-up to the defence of his Aintree crown in April.
The 15:00 Hurdle was won by David Pipe's Katkeau, making his first start for more than 600 days.