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
"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.