In this work the collapsing process of a spherically symmetric star, made of dust cloud, in the background of dark energy is studied for two different gravity theories separately, i.e., DGP Brane gravity and Loop Quantum gravity. Two types of dark energy fluids, namely, Modified Chaplygin gas and Generalised Cosmic Chaplygin gas are considered for each model. Graphs are drawn to characterize the nature and the probable outcome of gravitational collapse. A comparative study is done between the collapsing process in the two different gravity theories. It is found that in case of dark matter, there is a great possibility of collapse and consequent formation of Black hole. In case of dark energy possibility of collapse is far lesser compared to...