Blame it on my original training back in 1971, but I was taught to deal with underwater things underwater. My original post might have seemed a bit turse, but I too have experienced this type of thing. It was years ago and I was diving with someone I did not know. We were at 125 feet and he grabbed my octo and started to pull hard for the surface. I yanked back on the octo hose and got his attention. I swam over to him (one kick stroke), looked him right in the eye and put one hand on his shoulder. With my other hand I grabbed the octo second stage, put it back in his mouth and purged. At that point I gave him the "going up" sign, got his OK and we surfaced together, with me holding on to his shoulder straps all the way, doing most of the kicking and managing our buoyancy. It is something I hope I never again experience.
Was that the best way ...or the way that is taught nowadays ?? Dunno, but if faced with the same decision tomorrow I'd likely attempt that first before just giving in and rocketing toward the surface under tow.