Sreesanth pleaded guilty to a level two offence after he barged his way past Michael Vaughan while the England captain was standing at the non-striker's end in the morning session on the fourth day of the match in Nottingham on Monday.
The 24-year-old right-arm bowler accepted he had breached clause 2.4 of the code relating to "inappropriate and deliberate physical contact between players in the course of play".
"Cricket is a non-contact sport and any deviation from that fact is completely unacceptable, a point I made to Sreesanth in handing down my verdict," match referee Ranjan Madugalle said in an ICC statement.
"I have no problem with players being combative on the field but there is a line they cannot cross and Sreesanth crossed that line when he barged past Michael Vaughan, a collision he had every opportunity to avoid.
"I am pleased that Sreesanth accepted he was in the wrong by pleading guilty and that he apologised for his actions and I hope he learns from his mistake here."
The hearing, which used video evidence, was attended by Sreesanth, on-field umpires Simon Taufel and Ian Howell, India captain Rahul Dravid and other officials.