Mauboy tweeted an apology to her fans on Wednesday, but did not give any specific reasons for her decision to pull out of the event at the last minute.
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Mauboy apologises for Cup anthem no-show
Earlier on Wednesday, Mauboy's representative was quoted as saying “clothing and preparation” was the reason for the last minute ditching of Mauboy and that she was “incredibly sorry”.
VRC boss Simon Love issued a statement, confirming Mauboy was fitted out in a "mutually approved wardrobe" for the Melbourne Cup performance.
Love said the VRC was "disappointed" and seeking an explanation from Mauboy about her withdrawal, without notice, just minutes before she was due to sing.
Mauboy's backing singer Nadia Aya saved the day with a flawless rendition of Advance Australia Fair.
"The VRC was grateful that Nadia Aya could perform the national anthem ahead of the Emirates Melbourne Cup," Love said.
"The VRC can confirm that it supplied Jessica Mauboy with a mutually approved wardrobe and she undertook a full rehearsal of the planned performance on the eve of Emirates Melbourne Cup.
"The club has no details as to why Jessica Mauboy didn't perform and continues to seek clarification from her management."
Mauboy has gone to ground while her Sydney fashion stylist Mikey Ayoubi, who on Tuesday posted a photo of the singer on her way to the Cup on his Instagram account, says he can't comment.
Speculations on shoe problem
So far media speculation has attributed Mauboy's no-show to the first world problem of what shoes to wear.
Retailer Myer, a major backer of the event, apparently took issue with Mauboy's brand of footwear.
It's the second reported instance of a celebrity running foul of Myer's tough sponsor's policy.
On Derby Day, Hollywood superstar Hilary Swank wore an outfit designed by Aussie Christopher Esber which was matched with a Nerida Winter hat.
Both designers are aligned with retailer David Jones.
Swank was apparently supposed to be photographed holding the Melbourne Cup but because she wasn't decked out in Myer stocked apparel, the shoot was cancelled.
Myer has distanced itself from the drama, with a spokesman telling AAP "it is a matter for the VRC".
He said Myer was unaware of the issue until reading about it in the media.
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