Oram was found guilty of dissent and he was fined 20 per cent of his match fee following his dismissal on the second day of the match.
Srinath charged him under clause 2.1 of the ICC Code of Conduct which refers to showing serious dissent at an umpire's decision.
The charge was laid by on-field umpires Rudi Koertzen and Steve Davis, as well as third umpire Evan Watkin.
Oram showed dissent by looking at the bat first and then followed it up by a punch on the bat after being given leg before off England fast bowler Ryan Sidebottom by umpire Davis.
However, Oram pleaded guilty at the hearing and also apologised for any offence he may have caused the umpires.
On that basis Srinath downgraded the charge to Level 1.3, showing dissent at an umpire's decision, something he is entitled to do under the terms of the Code of Conduct.
Srinath later said, ''I took into account several factors in downgrading the charge, including the player's previously excellent conduct, his apology at the hearing, the fact it was a spontaneous act out of character with his normal behaviour and that he did not appear to use foul or offensive language.
''However, the fact remains that when the umpire raises his finger a player must leave the crease immediately and without question no matter what he may think of the decision.'' Apart from the match referee, the hearing was also attended by the three umpires, Jacob Oram and New Zealand team manager Lindsay Crocker.