Answer:
From viewpoint of an observer in the orbiting rocket, time on the rocket falling towards event horizon freezes, this happens because of complex space time warping.
Explanation:
Event Horizon
It is boundary of a black hole after which no light escapes. So practically we cannot see anything beyond that as no light comes back from there.
As the rocket gets nearer to the event horizon the time light needs to travel from there to us increases because of space warping and bending of space time towards black hole. For orbiting rocket it appears as the rocket is getting slower as it is reaching event horizon. When it reaches event horizon the orbiting rocket observe the incident as the rocket has stopped or the time has frozen. The light signals after event horizon never escapes back to us and it took eternity for the very last light signals to reach us and it appears as the Time has frozen.
