United Leasing & Industries Company was incorporated on January 13, 1983. It was promoted by R. K. Khanna, Anoop Kumar Khanna and Anil Kumar Khanna.  The main object of the company is to carry on the business of leasing of all types of industrial and office use plant, equipment, machinery, vehicles and hire purchase finance business.

In 1984 the Company entered into specialised vendor leasing business.

In 1992 the Company received category-I Certificate for acting as Merchant Banker from SEBI and proposed to diversify into the fields of Merchant banking and Bill Discounting etc.

In 1995 the Company promoted Telecom Finance (India) Ltd jointly with Fujitsu Limited and Itochu Corporation of Japan and Virgo Marketing (P) Ltd. of India.