UPES hands down. There is no comparison between the two schools. The College of Management & Economics Studies of UPES provides way better internships, certifications, industry recognised degrees, domain tailored MBAs, and finally, better job offers. They hold around 95% placement stats and serious students have landed up in Crisil, KPMG, Amazon, etc. with 6 digit salaries, which in a few cases exceeds those of IIMs. Generally, ROI too would be better than that of an ICFAI or DBS for most pupils. It is true UPES is not in the league of IIMs and other top privates, but then again it is not in the league of those like DBS. So if fees is not an issue for you, and you manage to clear the entrance procedures, UPES of course is a better option.
hope this may help you
best of luck