(c)the land comprised in the mortgage was waste land at the time of mortgage or land to which the Madras Preservation of Private Forests Act, 1949, would have applied if that Act had been in force at the time of mortgage, and:(i)the mortgagee or lessee was holding such land far a period of not less than thirty years immediately preceding the commencement of the Kerala Land Reforms (Amendment) Act, 1969; and(ii)the mortgagee or lessee has effected substantial improvements on such land before such commencement.