Chased round about, it's punished (9)
I believe the answer is:
chastised
'punished' is the definition.
(similar in meaning)
'chased round about it's' is the wordplay.
'round' means one lot of letters goes inside another.
'about' indicates an anagram.
'its' with letters rearranged gives 'tis'.
'chased' going around 'tis' is 'CHASTISED'.
(Other definitions for chastised that I've seen before include "Sad ethics (anag.)" , "Severely reprimanded" , "Rebuked" , "beaten" .)