Sanra Rudra

Indian software company Sanra has announced a new anti-malware solution called Rudra. Rudra is a no-update solution that sounds like it is a mix of HIPS and tripwire. It assumes a clean system at install and then monitors for changes.
It seems like the documentation does a good job of describing what it is not. It is not virus definition based or heuristic based. But when it describes what it is, it is less forthcoming. How does it determine that a new program is a threat or not? Sounds like its a whitelist only approach to the computer.
A SecurityPipeline article says this program will be available the second week of January.