In the recent paper, an in-depth investigation of liquid holdup during air-water upflow through concentric annuli has been reported. The liquid holdup has been determined experimentally for the bubbly, slug and churn flow regimes. The drift flux model has been adopted for the theoretical estimation of holdup in the bubbly, dispersed bubbly and slug flow regimes, The pronounced effect of flow regime on this parameter as observed from experiments has been incorporated in the model by adopting different values of U-infinity, n and C-0. The asymmetry of the Taylor bubbles has been incorporated in the slug flow regime. The theoretical predictions exhibit a good agreement with the experimental data of the present work and that available in literature (Caetano et al., 1989b). The Hughmark's correlation is observed to correlate the churn flow data of the present work reasonably well.