Both are the decent & same level colleges. As per the analyzing report of Careers360 Punjab Agricultural University, Ludhiana has AAAA rating which means very good & University Business School, Panjab University, Chandigarh has also AAAA rating which means very good. This rating is provided to the colleges on various research of the colleges on placemnet, Faculty, Industry Exposure etc. You can check the genuine reviews of teh colelges with the given below links.

https://bschool.careers360.com/colleges/university-business-school-panjab-university-chandigarh

https://university.careers360.com/colleges/punjab-agricultural-university-ludhiana

Good Luck!