$ cat /etc/xinetd.d/telnet
# default: on
# description: The telnet server serves telnet sessions; it uses
# unencrypted username/password pairs for authentication.
service telnet
{
disable = no
flags = REUSE
socket_type = stream
wait = no
user = root
server = /usr/sbin/in.telnetd
log_on_failure += USERID
}
#only_from = 172.16.20.0/24 # Only allow users in 172.16.20.0
#access_times = 08:00-18:00 # Only allow access in UK office hours

$ cat /etc/xinetd.conf 
# Simple configuration file for xinetd
#
# Some defaults, and include /etc/xinetd.d/

defaults
{

# Please note that you need a log_type line to be able to use log_on_success
# and log_on_failure. The default is the following :
log_type = SYSLOG daemon info

}

includedir /etc/xinetd.d

$ cat /etc/init.d/telnet 
telnet stream tcp nowait telnetd /usr/sbin/tcpd /usr/sbin/in.telnetd